How to Get a Tax ID (EIN) in W Townshend VT

Obtaining a Tax ID Number (EIN)

When starting a business in W Townshend 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 W Townshend 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

• West Townshend, VT
• Windham, VT
• South Windham, VT
• Stratton Mtn, VT
• Stratton Mnt, VT
• Rawsonville, VT
• South Londonderry, VT
• Stratton Mountain, VT
• S Londonderry, VT
• Grafton, VT
• Townshend, VT
• Mary Meyer, VT
• Harmonyville, VT
• Simpsonville, VT
• Jamaica, VT
• Pikes Falls, VT
• East Jamaica, VT
• Baltimore, VT
• Brockways Mills, VT
• Chester, VT
• Athens, VT
• Peaseville, VT
• Andover, VT
• Reedville, VT
• Simonsville, VT
• North Windham, VT
• Middletown, VT
• Bartonsville, VT
• Cambridgeport, VT
• Landgrove, VT
• Londonderry, VT
• Bromley Mtn, VT
• South Wardsboro, VT
• Wardsborough, VT
• Wardsboro, VT
• Brookline, VT
• Newfane, VT
• Peru, VT
• Saxtons River, VT
• Winhall, VT
• Bondville, VT
• Gageville, VT
• Rockingham, VT
• North Westminster, VT
• Bellows Falls, VT
• Weston, VT
• Weston Priory, VT
• Stratton, VT