If you recently started or plan to start a business in Browning MT or have another taxable entity one of the first things you will want to do is obtain your Tax ID in Browning MT.
Obtaining a Tax ID Number (EIN)
When starting a business in Browning MT, 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.
Montana State Tax ID
Outside of obtaining your Federal Tax ID (EIN) in Browning MT you will also likely need a Montana 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 Montana State Website at http://sos.mt.gov/business
Cities in Montana
- Blackfoot, MT
- Saint Mary, MT
- St Mary, MT
- Del Bonita, MT
- Santa Rita, MT
- Cut Bank, MT
- Heart Butte, MT
- Valier, MT
- Babb, MT
- Dupuyer, MT
- Ethridge, MT
- E Glacier Par, MT
- E Glacier Park, MT
- E Glacier Pk, MT
- East Glacier, MT
- East Glacier Park, MT
- Rising Sun, MT
- Kevin, MT
- Pendroy, MT
- Apgar, MT
- Bynum, MT
- Essex, MT
- Sweet Grass, MT
- Oilmont, MT
- Ferdig, MT
- Shelby, MT
- Lake Mc Donald, MT
- Lake Mcdonald, MT
- West Glacier, MT
- Hungry Horse, MT
- Sunburst, MT
- Ledger, MT
- Choteau, MT
- Martin City, MT
- Conrad, MT
- Coram, MT
- Creston, MT
- Evergreen, MT
- Kalispell, MT
- Columbia Falls, MT
- Columbia Fls, MT
- Brady, MT
- Galata, MT
- Bigfork, MT
- Swan Lake, MT
- Dutton, MT
- Somers, MT
- Lothair, MT