If you recently started or plan to start a business in Meeham MS or have another taxable entity one of the first things you will want to do is obtain your Tax ID in Meeham MS.
Obtaining a Tax ID Number (EIN)
When starting a business in Meeham MS, serving as the administrator or executor of an estate, creator of a Trust or operating a Non Profit Organization obtaining a Tax ID (EIN) is a key responsibility. A Tax ID also known as an Employer ID Number (EIN) is a unique nine digit number that identifies your business or entity with the IRS for tax purposes, essentially like a Social Security Number for the entity. A Tax ID (EIN) is used for opening a business
bank account, filing business tax returns and in many cases is required when applying for business licenses. In most cases it is helpful to apply for a Tax ID (EIN) as soon as your start planning a business to ensure that there are no delays in obtaining the correct licenses, financing and opening a business bank account that would be needed to operate.
Information to Consider Prior to Applying
Before applying for your Tax ID (EIN) you may want to consider a few things before starting the application including:
- Determine which structure your business or organization will operate as
- Determine the individual or organization that will serve as the responsible party
- Determine the physical address the business/entity will use – A physical address is required for all Tax ID (EIN)’s and a separate mailing address can be specified
Definition of Entities
- Sole Proprietor – An individual who owns a company that is not incorporated or registered with the state as a limited liability company (LLC).
- Limited Liability Company (LLC) – A LLC is a structure formed by filing articles of organization which allows members limited liability protection and pass through taxation.
- Corporation – A person or group of people who establish a legal entity by filing articles of incorporation with the state’s secretary of state.
- Estate of Deceased – An estate (or decedent estate) or succession is a legal entity created as a result of a person’s death.
- Trusts – All types of trusts including conservatorships, custodianships, guardianships, irrevocable trusts, revocable trusts, and receiverships.
- Partnership – An unincorporated organization in which two or more individuals share the profits and liabilities of a business venture.
- Church – For tax purposes, a “church” refers to any organization claiming to be a church including temples, mosques, and other houses of worship.
- Non-Profit Organization – Includes public charities, educational organizations, PTA/PTO Organizations, Community Sports Teams, Homeowners/Condo Associates, etc.
Mississippi State Tax ID
Outside of obtaining your Federal Tax ID (EIN) in Meeham MS you will also likely need a Mississippi State Tax ID. This ID is needed to pay business taxes, state income tax and/or sales tax on items you sell. Generally the State Tax ID is used for the follow:
- Sales and Use Tax
- Employee Income Tax Witholding
- Sales Tax Exemption Permits
- Excise Taxes for items like Alcohol, Tobacco, Firearms, Oil & Gas, heavy machinery, etc.
For specific detail refer to the Mississippi State Website at https://tap.dor.ms.gov/_/
Cities in Mississippi
- Russell, MS
- Mdn, MS
- Meridian, MS
- Marion, MS
- Toomsuba, MS
- Stonewall, MS
- Enterprise, MS
- Quitman, MS
- Lisman, AL
- Yantley, AL
- Lauderdale, MS
- Bailey, MS
- Daleville, MS
- Naval Air Station, MS
- Nas Meridian, MS
- Naval Air Sta Meridian, MS
- Cuba, AL
- Chunky, MS
- Collinsville, MS
- Jachin, AL
- Hickory, MS
- Ward, AL
- Pachuta, MS
- Little Rock, MS
- Riderwood, AL
- Butler, AL
- Lavaca, AL
- Porterville, MS
- Rose Hill, MS
- Melvin, AL
- Needham, AL
- De Kalb, MS
- Whitfield, AL
- York, AL
- Bellamy, AL
- Moss, MS
- Toxey, AL
- Vossburg, MS
- Decatur, MS
- Shubuta, MS
- Gilbertown, AL
- Newton, MS
- Coatopa, AL
- Livingston, AL
- Pennington, AL
- Neshoba, MS
- Union, MS
- Paulding, MS