It can be expensive and time-consuming to get professional help for your organization. Things do not have to always be complicated, though, evidenced by the Idaho Tax ID Application Manual. The manual was put together to help you get a Tax ID (EIN) Number in Idaho and quickly. Acquiring an EIN number is a requirement for tax reporting purposes. With the manual, you can input all necessary information online, have the validation done electronically, and see an EIN number generated near instantly.
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Steps to Obtain your Tax ID (EIN) Number in Idaho:
- Prepare Required Information
- Apply for a Idaho Tax ID Online
- Apply for a Idaho Tax ID by Phone, Mail or Fax
- How Do I Get a Tax ID Number in Idaho?
- How Do I Get a State Tax ID Number?
- How Do I Get an Idaho State Tax ID Number?
The first thing you’ll want to do is prepare the information required by the federal tax ID application. Otherwise, it will take far longer to complete the application, delaying your receipt of your federal tax ID number.
You’ll need the following pieces of information:
- Legal names and legal addresses. First, you’ll need to gather the full legal names and legal addresses of every founding member of your business, including yourself and all your partners.
- Social security numbers (SSNs). Next, you’ll need to jot down their social security numbers (SSNs).
- Your business’s official name. This process will register your business with the government, so you’ll need to provide your official business name.
When you have all the right information on your business and its founding members, you’ll be able to begin the application. There are several options available to you, but the best choice is to apply online. Applying online is simpler and more convenient than any other method, and it’s going to get you your tax ID much faster as well.
When you apply online, you can access the application form at any time, using any internet-connected device. The form is intuitive and easy to navigate, so you won’t have any trouble filling it out. If you have all the right information gathered, it shouldn’t take much time to fill out. In fact, most people can complete the application in 5 minutes or less. Once you have the application finished, you should receive your tax ID via email in an hour or less. That remarkable turnaround time means you can start your business faster, and begin generating revenue.Apply for an Idaho Tax ID Number
Though applying online is recommended for all people and all businesses, there are some alternative methods available. If you feel up to hunting down a paper application, you can fill one out by hand, then manually mail it in or send it in via fax. You could also apply over the phone, answering questions with a live representative in a kind of interview. These traditional methods tend to be more of a pain to deal with, and take more time. Most importantly, if you use one of them, you could be stuck waiting up to 4 to 6 weeks to receive your tax ID by mail when you use them.
There are a few different ways to get a tax ID in Idaho, but some are demonstrably better than others. You can, for example, apply for a tax ID through a traditional method, like applying with a mailed-in paper application or over the phone. No matter which method you choose, you’ll be answering the same types of questions about you, your partners, and your business. However, if you use these traditional methods, you’ll be stuck waiting a long time after you complete the initial application, sometimes up to 4 to 6 weeks to get your tax ID.
It’s much better to use a third-party service to apply for your tax ID online. The online application process is much smoother and easier to follow, especially if you’ve gathered all the requisite pieces of information on your business in advance. It should only take a few minutes to finish your application in this format, and once you do, you’ll receive your tax ID via email in an hour or less.
Your federal tax ID is just one possible tax ID number your business could have. This is also called your employer identification number, or EIN, and is sometimes referred to simply as your “tax ID.” You’ll need it if your business is going to have multiple members, like if it’s a partnership, a corporation, or an limited liability company (LLC) with multiple members. You’ll also need this tax ID if you’re going to hire employees, as suggested by its alternative name. Your federal tax ID is also used to apply for business bank accounts and loans, and to apply for business licenses and permits.
Your state tax ID number serves a different purpose. It’s a unique identifier for your business, like your federal tax ID, but it’s meant to register your business with the state government of Idaho. You’ll need a state tax ID number for your Idaho business if you’re going to sell taxable products and services, if you’re going to owe excise taxes on regulated products like alcohol and tobacco, or if you’re going to hire employees in the state of Idaho. To get one, the best method is to apply online.
If you do need an Idaho state tax ID number, the first step to getting one is applying for (and obtaining) your federal tax ID number. Once you have that, you can apply for your Idaho state tax ID number. Remember, you’ll need this number if you’re hiring employees in the state of Idaho, if you’re going to sell taxable goods and services in Idaho, or if you’re going to owe excise taxes.
You can apply for your Idaho state tax ID number online or through a traditional method, similar to what you did for your federal tax ID number. Again, applying online is much faster and more convenient, so you’ll get your state tax ID number faster. However, when applying for a state tax ID, you may need to wait 4 to 6 weeks to receive it, even if you apply online.