How To Apply For A Tax ID Number in Florida
If you’re thinking about opening a business in Florida, or you want to acquire an existing Florida business, and you’re ready to hire your first employee or open a bank account in your business’s name, you need an Employer Identification Number (EIN).
This is a federal tax ID number used by businesses, non-profits, trusts, estates, and several other types of entities. To help you out, this guide explains how to get an EIN in Florida. Then, it briefly outlines the differences between state and federal tax ID numbers.
Most businesses need an EIN number Florida to hire employees to withhold taxes for independent contractors. You also need an EIN to file federal tax returns such as corporate tax returns, partnership tax returns, and excise taxes.
You will need to obtain a new Florida EIN number for any business that you acquire, even if they already have an established EIN business. You may also need to obtain a Florida state tax ID number for your business. Keep reading for tips on how to get an EIN in Florida.
Prepare The Required Information
First, gather some details about your business. The information you need is relatively straightforward, and most business owners know these details off the top of their heads or they have them readily available in their files.
You need your business name and contact details. You also need the name, tax ID, and phone number of the business’s responsible party. This should be an owner, partner, or director, and must be an individual rather than a business entity. Other essential information required includes the number of employees you have and why the business needs an EIN.
Apply Online
Online applications produce an EIN immediately upon approval. Note that you can only apply for one EIN per day online. You must apply on different days or by mail if you need more than one EIN.
Submit Your Application Via Mail
Print out a paper EIN application and fill in the blanks to apply by mail. You can work with a business formation specialist to avoid mistakes on the application. They can help you complete the application correctly to eliminate the risk of processing errors.
Once the paper EIN application is complete, send it to the address on the form. Wait for the government to mail your tax ID to your address.
Frequently Asked Questions
Here are some frequently asked questions about EINs. These are the questions that business owners tend to ask the most often about an EIN number in Florida
Businesses and nonprofits need a Florida EIN number to hire employees. They also need an EIN for federal tax returns and banking purposes. If you need to know whether or not your Florida business needs an EIN, you should consult with a business formation specialist.
No. Tax ID numbers are assigned by the Internal Revenue Service. A business formation or EIN specialist can help you apply for and obtain these numbers to ensure your business is ready to meet its state and federal tax obligations.
EINs and Florida tax ID numbers are not the same things, but they are similar. An EIN number Florida is a federal tax ID number. A Florida tax ID number is a state tax ID number. Use the EIN on federal tax forms and the Florida number on state tax forms. Some state tax forms may also request your EIN. Most banks in Florida will use your Florida EIN number to identify your business and won’t always require Florida tax ID numbers.