If you recently started or plan to start a business in Oklahoma or have another taxable entity one of the first things you will want to do is obtain your Tax ID in Oklahoma.
Obtaining a Tax ID Number (EIN)
When starting a business in Oklahoma, 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.
Oklahoma State Tax ID
Outside of obtaining your Federal Tax ID (EIN) in Oklahoma you will also likely need a Oklahoma 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 Oklahoma State Website at https://www.ok.gov/tax/Online_Services/Online_Business_Registration.html
Cities in Oklahoma
- Owasso, OK
- Ardmore, OK
- Sapulpa, OK
- Ada, OK
- Tahlequah, OK
- Sand Springs, OK
- Stillwater, OK
- Mcalester, OK
- Duncan, OK
- Claremore, OK
- Broken Arrow, OK
- Enid, OK
- Bixby, OK
- Durant, OK
- Shawnee, OK
- Altus, OK
- Lawton, OK
- Choctaw, OK
- Edmond, OK
- Mustang, OK
- Ponca City, OK
- Guthrie, OK
- Chickasha, OK
- Bethany, OK
- El Reno, OK
- Miami, OK
- Blanchard, OK
- Muskogee, OK
- Collinsville, OK
- Okmulgee, OK
- Pryor, OK
- Sallisaw, OK
- Woodward, OK
- Jenks, OK
- Wagoner, OK
- Coweta, OK
- Grove, OK
- Bartlesville, OK
- Elk City, OK
- Skiatook, OK
- Stilwell, OK
- Weatherford, OK
- Guymon, OK
- Muldrow, OK
- Vinita, OK
- Tecumseh, OK
- Cushing, OK
- Noble, OK