If you recently started or plan to start a business in Batavia OH or have another taxable entity one of the first things you will want to do is obtain your Tax ID in Batavia OH.
Obtaining a Tax ID Number (EIN)
When starting a business in Batavia OH, 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.
Ohio State Tax ID
Outside of obtaining your Federal Tax ID (EIN) in Batavia OH you will also likely need a Ohio 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 Ohio State Website at http://www.tax.ohio.gov/Business/business_registration.aspx
Cities in Ohio
- Stonelick, OH
- Owensville, OH
- Amelia, OH
- Hamlet, OH
- Lindale, OH
- Day Heights, OH
- Mt Repose, OH
- Milford, OH
- Newtonsville, OH
- Withamsville, OH
- Cherry Grove, OH
- New Harmony, OH
- Williamsburg, OH
- Eastwood, OH
- Crosstown, OH
- Shademore, OH
- Anderson, OH
- Newtown, OH
- Mount Carmel, OH
- Terrace Park, OH
- Edenton, OH
- Cozaddale, OH
- Goshen, OH
- Loveland, OH
- Camp Dennison, OH
- New Richmond, OH
- Mount Pisgah, OH
- Laurel, OH
- Miamiville, OH
- Madeira, OH
- Columbia Township, OH
- Columbia Twp, OH
- Indian Hill, OH
- Ross, KY
- Campsprings, KY
- Melbourne, KY
- Epworth Heights, OH
- Murdock, OH
- Montgomery, OH
- Steelville, OH
- Twightwee, OH
- Springvale, OH
- Seilcrest Acres, OH
- Symmes Twp, OH
- Twenty Mile Stand, OH
- Mount Washing, OH
- Anderson Township, OH
- Anderson Twp, OH