How to Get a Tax ID (EIN) in Jericho Ctr VT

Obtaining a Tax ID Number (EIN)

When starting a business in Jericho Ctr VT, 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.

Vermont State Tax ID

Outside of obtaining your Federal Tax ID (EIN) in Jericho Ctr VT you will also likely need a Vermont 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 Vermont State Website at http://tax.vermont.gov/business-and-corp/register-renew-close-business

Cities in Vermont

• Jericho, VT
• West Bolton, VT
• Jericho Center, VT
• Underhill Ctr, VT
• Underhill Center, VT
• Bolton Valley, VT
• Richmond, VT
• Underhill Flats, VT
• Underhill, VT
• Jonesville, VT
• Pinewood, VT
• Brookside, VT
• Essex Junction, VT
• Essex Ctr, VT
• Essex Jct, VT
• Essex Center, VT
• Essex, VT
• Saint George, VT
• Williston, VT
• St George, VT
• Colbyville, VT
• Bolton, VT
• Duxbury, VT
• North Duxbury, VT
• Stowe, VT
• Moscow, VT
• Westford, VT
• Waterbury Center, VT
• Waterbury Ctr, VT
• Waterbury, VT
• Huntington, VT
• Huntingtn Ctr, VT
• Huntington Center, VT
• Huntington Lower Village, VT
• Binghamville, VT
• Cambridgeboro, VT
• Cloverdale, VT
• Fletcher, VT
• Cambridge, VT
• Pleasant Valley, VT
• St Michaels College, VT
• Colchester, VT
• Madonna, VT
• Jeffersonvlle, VT
• Jeffersonville, VT
• South Burlington, VT
• S Btv, VT
• S Burl, VT