If you recently started or plan to start a business in Dupont WA or have another taxable entity one of the first things you will want to do is obtain your Tax ID in Dupont WA.
Obtaining a Tax ID Number (EIN)
When starting a business in Dupont WA, 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.
Washington State Tax ID
Outside of obtaining your Federal Tax ID (EIN) in Dupont WA you will also likely need a Washington 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 Washington State Website at http://dor.wa.gov/content/doingbusiness/registermybusiness/
Cities in Washington
- Camp Murray, WA
- Camp Murray Natl Guard, WA
- Fort Lewis, WA
- Ft Lewis, WA
- Anderson Is, WA
- Anderson Island, WA
- Yoman Ferry, WA
- Villa Beach, WA
- Ketron Island, WA
- Ketron Is, WA
- Mcneil Island, WA
- Steilacoom, WA
- Paradise, WA
- Paradise Inn, WA
- Fort Steilacoom, WA
- Mc Chord AFB, WA
- Lacey, WA
- Mcchord AFB, WA
- Longbranch, WA
- Parkland, WA
- Pacific Lutheran University, WA
- Fox Is, WA
- Sylvan, WA
- Shorewood Beach, WA
- Fox Island, WA
- Fircrest, WA
- Washington State Department, WA
- East Olympia, WA
- Kellys Korner, WA
- Olympia Brm, WA
- Lakewood, WA
- Thompson Place, WA
- Olympia, WA
- South Sound, WA
- Oly, WA
- Schneiders Prairie, WA
- Maytown, WA
- Tumwater, WA
- Offutt Lake, WA
- Nisqually, WA
- South Bay, WA
- Union Mills, WA
- Boston Harbor, WA
- Mckenna, WA
- Mc Kenna, WA
- Roy, WA
- Herron Island, WA
- Lakebay, WA