How To Apply For a Tax ID Number in Idaho
You will need a Federal Employer Identification Number and a state tax ID number to run a business in Idaho. These numbers identify your business to the Internal Revenue Service, the Idaho State Tax Commission, banks, and other entities. Although there are limited exceptions, most companies need federal and state tax ID numbers.
Keep reading for an overview of the basics and tips on how to apply for an Idaho EIN number.
You need an EIN number Idaho before hiring your first employee. You also need an EIN if you want to pay excise taxes or withhold taxes from contractors. Banks require an Idaho EIN if you open a bank account or take out a loan in the business’s name. Here are some steps to get started.
Prepare The Required Information
You’ll need your business’s name, address, entity type, and, if relevant, the state where you incorporated or established your LLC for the application.
You also need a stated reason for why you’re applying for an EIN number Idaho. In some cases, there are multiple options that may apply to your situation. You should be prepared with one primary reason. You also need to name a responsible party — this must be an individual, and generally, they must have an ownership share in the company.
Finally, you need to list how many people you plan to employ this year, and if applicable, note how many of your employees are agricultural or domestic employees. If you qualify to file payroll taxes annually instead of quarterly, you can select that option. This only applies if you anticipate owing less than $1,000 in payroll tax for the year.
Apply Online
With all of your details prepared, you can easily apply online. It’s the fastest and easiest way to get an EIN. The only caveat is that you can only apply for one EIN number Idaho online during a day, so if you need multiple EINs, you will need to apply for them on different days or mail in your applications.
Submit Your Application Via Mail
You can also mail your application for an EIN. If you decide to apply for an Idaho EIN number through the mail, be very careful to ensure that you complete the application correctly. The government will return incomplete applications, and this can make it take longer to get an EIN.
Frequently Asked Questions
Do you have questions about business tax ID numbers in Idaho? Then, keep reading for more information. Here are some of the questions that business owners ask the most about federal and state tax ID numbers.
An Idaho tax ID number is a unique number that identifies your business to tax agencies, banks, and other entities. For businesses, this number works similarly to a Social Security Number for individuals. Most companies in Idaho need a tax ID number. You will need a federal or state tax ID if any of the following apply to your business:
● Your business has employees.
● You need to withhold tax on a contractor’s pay.
● Your business collects sales and use tax in Idaho.
● Your business files taxes as a partnership or corporation.
● Your bank requires an EIN.
● You’re buying an existing business, and you need a new EIN.
This is not an exhaustive list. There may be other reasons that you need an EIN in Idaho.
No, the Idaho Secretary of State handles certain business registration issues, such as creating an LLC in Idaho. The Idaho SOS does not issue EINs. These numbers come from the Internal Revenue Service. Contact the Idaho State Tax Commission to obtain an Idaho state tax ID
An EIN is a federal tax ID number that you’ll use on forms that you send to the IRS. In contrast, an Idaho tax ID number is a state tax ID number. By extension, you use this number on tax forms that you send to the state.