If you recently started or plan to start a business in N Powder OR or have another taxable entity one of the first things you will want to do is obtain your Tax ID in N Powder OR.
Obtaining a Tax ID Number (EIN)
When starting a business in N Powder OR, 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.
Oregon State Tax ID
Outside of obtaining your Federal Tax ID (EIN) in N Powder OR you will also likely need a Oregon 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 Oregon State Website at http://www.oregon.gov/DOR/programs/businesses/Pages/default.aspx
Cities in Oregon
- North Powder, OR
- Haines, OR
- Island City, OR
- La Grande, OR
- Union, OR
- Cove, OR
- Medical Springs, OR
- Baker, OR
- Baker City, OR
- Keating, OR
- Medical Spgs, OR
- Imbler, OR
- Granite, OR
- Sumpter, OR
- Greenhorn, OR
- Summerville, OR
- Meacham, OR
- Lostine, OR
- Wallowa, OR
- Elgin, OR
- Hereford, OR
- Enterprise, OR
- Weatherby, OR
- Durkee, OR
- Bridgeport, OR
- Richland, OR
- Pilot Rock, OR
- Halfway, OR
- Dale, OR
- Ukiah, OR
- Bates, OR
- Unity, OR
- Prairie City, OR
- Joseph, OR
- Weston, OR
- Pendleton, OR
- Cayuse, OR
- Huntington, OR
- Lime, OR
- Rye Valley, OR
- Adams, OR
- Oxbow, OR
- Milton Freewater, OR
- Milton Frwtr, OR
- Milton-Freewater, OR
- Ironside, OR
- Athena, OR
- Brogan, OR