If you recently started or plan to start a business in Falcon Hts TX or have another taxable entity one of the first things you will want to do is obtain your Tax ID in Falcon Hts TX.
Obtaining a Tax ID Number (EIN)
When starting a business in Falcon Hts TX, 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.
Texas State Tax ID
Outside of obtaining your Federal Tax ID (EIN) in Falcon Hts TX you will also likely need a Texas 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 Texas State Website at https://comptroller.texas.gov/taxes/permit/
Cities in Texas
- Falcon Heights, TX
- Falcon Village, TX
- Salineno, TX
- Los Saenz, TX
- Roma, TX
- Fronton, TX
- Falcon, TX
- Lopeno, TX
- Zapata, TX
- Rio Grande, TX
- Escobares, TX
- El Sauz, TX
- Rincon, TX
- Garceno, TX
- Fort Ringgold, TX
- Santa Catarina, TX
- Rio Grande Cy, TX
- Santa Cruz, TX
- La Casita, TX
- Villareales, TX
- Rio Grande City, TX
- Guerra, TX
- Garciasville, TX
- Grulla, TX
- La Grulla, TX
- Santa Elena, TX
- La Gloria, TX
- Agua Nueva, TX
- Escobas, TX
- Bustamante, TX
- Viboras, TX
- Hebbronville, TX
- San Ygnacio, TX
- Sullivan City, TX
- Los Ebanos, TX
- Curvitas, TX
- Delmita, TX
- El Centro, TX
- La Reforma, TX
- San Isidro, TX
- Penitas, TX
- La Joya, TX
- Abram, TX
- Mission, TX
- Granjeno, TX
- Perezville, TX
- Madero, TX
- Citrus City, TX