How To Get an EIN (Tax ID) Number In Nebraska
Nebraska may be famous for its cornfields, but the state is also a great place to start a business. It ranked on Forbes’s top five list of best states for entrepreneurs from 2014 to 2018, and it’s also home to Warren Buffet who’s widely considered to be one of the world’s most savvy investors.
If you’re starting a business in Nebraska, you need tax ID numbers for your business. You need both a federal Employer Identification Number (EIN) and a Nebraska tax ID number for state taxes. You also need a Nebraska EIN number if you’re buying an existing business or changing the structure of your business. Nonprofits, trusts, estates, and many other entities also need this number.
Need help applying? Then, this guide is for you. It outlines everything you need to know about applying for an EIN and a state tax ID in this state.
How To Apply For A Tax ID Number In Nebraska
Applying for an EIN is relatively straightforward. You just need to gather the required information. Then, you can complete your application online or fill out a paper EIN form SS-4 to mail in. Keep reading for more details.
Prepare The Required Information
To get an EIN number Nebraska residents need basic details about their business or other type of entity. This includes the entity name, address, and contact details. You should also prepare to answer the following questions.
● Who is the responsible party? If you’re the main owner, you should put your details in this section. Otherwise, choose a partner or key shareholder. The responsible person must be a human. It can’t be a corporation, partnership, or other non-human entity.
● How many employees do you plan to pay this year? You also must note the first date you paid wages and whether or not any of your employees are agricultural or household employees.
● Do you want to file payroll taxes annually? If desired, you can use this form to opt into annual filing for your payroll tax forms. Only make this selection if you anticipate owing less than $1,000 in federal payroll taxes.
● Why do you want an EIN? The most common reasons include starting a new business, buying an existing business, hiring your first employee, or handling business banking needs.
● Is your business an LLC? If so, you need to note the number of members and the state where you set up the LLC.
● Is your business a corporation? If so, where were you incorporated? If your business was incorporated in a foreign country, you must note that.
● What is your principal business activity? The form lists construction, real estate, rental and leasing, manufacturing, transportation and warehousing, finance and insurance, health care, accommodation and food service, wholesale—agent, and wholesale—other. If you don’t fit into one of these categories, select “other and type in an answer.
Get these details ready before you start the application. Then, you’ll have everything you need to complete the process in a timely manner.
Apply Online
To apply online, you just need to enter the above details in the online application. Usually, when you complete your EIN application over the internet, you get the number right away.
Submit Your Application Via Mail
To request a mailed EIN number Nebraska residents should print Form SS-4, fill it out, and mail it in. This typically takes four to six weeks. You can shave off some time if you have a fax machine.
Frequently Asked Questions
If you still have questions, you are not alone. Here are answers to some of the most common questions business owners have.
An EIN identifies your business on federal tax forms and bank statements. You need this number if you want to hire employees, if you pay excise or other federal taxes, or if you want to do banking in your business’s name. Most business owners in Nebraska need an EIN.
No, the Secretary of State does not issue EIN numbers. To get an EIN number Nebraska residents should follow the instructions to apply online or through the mail.
A Nebraska EIN number is a federal tax number. You use it on federal tax forms such as payroll returns, partnership returns, and corporate returns. You also use this number on bank forms such as when you open a new account or apply for a business loan. A Nebraska tax ID number is for state returns such as state withholding or state sales tax forms.