If you recently started or plan to start a business in Nevada or have another taxable entity one of the first things you will want to do is obtain your Tax ID in Nevada.
Obtaining a Tax ID Number (EIN)
When starting a business in Nevada, 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.
Nevada State Tax ID
Outside of obtaining your Federal Tax ID (EIN) in Nevada you will also likely need a Nevada 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 Nevada State Website at https://tax.nv.gov/OnLineServices/Online_Services/
Cities in Nevada
- North Las Vegas, NV
- Sparks, NV
- Henderson, NV
- Carson City, NV
- Fallon, NV
- Elko, NV
- Fernley, NV
- Winnemucca, NV
- Boulder City, NV
- Dayton, NV
- Spring Creek, NV
- Gardnerville, NV
- Minden, NV
- Yerington, NV
- Silver Springs, NV
- Ely, NV
- Battle Mountain, NV
- Lovelock, NV
- West Wendover, NV
- Reno, NV
- Hawthorne, NV
- Overton, NV
- Logandale, NV
- Stateline, NV
- Wellington, NV
- Tonopah, NV
- Jean, NV
- Carlin, NV
- Wells, NV
- Zephyr Cove, NV
- Caliente, NV
- Round Mountain, NV
- Amargosa Valley, NV
- Pioche, NV
- Verdi, NV
- Eureka, NV
- Moapa, NV
- Bunkerville, NV
- Owyhee, NV
- Jackpot, NV
- Alamo, NV
- Mc Gill, NV
- Wadsworth, NV
- Beatty, NV
- Panaca, NV
- Indian Springs, NV
- Virginia City, NV
- Genoa, NV