If you recently started or plan to start a business in Dunbarton NH or have another taxable entity one of the first things you will want to do is obtain your Tax ID in Dunbarton NH.
Obtaining a Tax ID Number (EIN)
When starting a business in Dunbarton NH, 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.
New Hampshire State Tax ID
Outside of obtaining your Federal Tax ID (EIN) in Dunbarton NH you will also likely need a New Hampshire 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 New Hampshire State Website at https://www.revenue.nh.gov/businesses/index.htm
Cities in New Hampshire
- Bow, NH
- Goffstown, NH
- Weare, NH
- Nh Dept Of Safety, NH
- Hooksett, NH
- Hopkinton, NH
- Contoocook, NH
- Pinardville, NH
- Concord, NH
- Pembroke, NH
- Allenstown, NH
- Suncook, NH
- New Boston, NH
- Nh Insurance, NH
- Shared Firm Zip, NH
- Manchester, NH
- Bedford, NH
- Henniker, NH
- Francestown, NH
- North Chichester, NH
- Chichester, NH
- Webster, NH
- Boscawen, NH
- Penacook, NH
- Candia, NH
- Epsom, NH
- Auburn, NH
- Mount Vernon, NH
- Mt Vernon, NH
- Mont Vernon, NH
- Amherst, NH
- Loudon, NH
- Lyndeboro, NH
- Lyndeborough, NH
- Deering, NH
- Hillsborough, NH
- Windsor, NH
- Hillsboro, NH
- Canterbury, NH
- Bennington, NH
- Deerfield, NH
- East Candia, NH
- E Candia, NH
- Merrimack, NH
- Greenfield, NH
- Litchfield, NH
- Pittsfield, NH
- Warner, NH