Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Tax ID number – What is it and do I need it?

By Globesamerica Subscribe to RSS | February 10th 2012 | Views:

Part of the US incorporation process, of an LLC or INC is to obtain a Tax ID number. An Employer Identification Number (EIN) is also known as a Federal Tax Identification Number, and is used to identify a business entity (LLC, INC).

Generally, businesses need an EIN if you meet one of the following: if you operate your business as a corporation, partnership or LLC, If you have employees, if you file any of these tax returns: Employment, Excise, or Alcohol, Tobacco and Firearms, if you withhold taxes on income, other than wages, paid to a non-resident alien.

All EIN applications must disclose the name the name of the “responsible party. This individual or entity, will control, manage, or direct the applicant entity and the disposition of its funds and assets. If there is more than one responsible party (Multi member LLC, few shareholders) the entity may list whichever party the entity wants the IRS to recognize as the responsible party.

According to the Instructions for the current revision of the application, the “responsible party” is defined as follows: For entities with shares or interests traded on a public exchange, or which are registered with the Securities and Exchange Commission, “responsible party” is (a) the principal officer, if the business is a corporation, (b) a general partner, if a partnership, (c) the owner of an entity that is disregarded as separate from its owner (disregarded entities owned by a corporation enter the corporation’s name and EIN), or (d) a grantor, owner, or trustor if a trust. For all other entities, “responsible party” is the person who has a level of control over, or entitlement to, the funds or assets in the entity that, as a practical matter, enables the individual, directly or indirectly, to control, manage or direct the entity and the disposition of its funds and assets. The ability to fund the entity or the entitlement to the property of the entity alone, however, without any corresponding authority to control, manage, or direct the entity (such as in the case of a minor child beneficiary), does not cause the individual to be a responsible party.

How Will I get it for my US Company?

After registering your US Company with the state, you can fill the EIN application. Form ss-4 can be downloaded from the IRS website.

You will need to fill the LLC's or INC's name, US address, responsible party, principal activity, date and sign it. The form can be submitted to the IRS via mail, fax, and phone or online.

Globesamerica - About Author:
Globes America is a USA Limited Liability Company offers services such as registration, incorporation for non us residents, Corporation, bank account, merchant account, tax & address. If you are looking for specialized corporation services, please feel free to contact us. Our live chat professionals are also available 24/7 for your help.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:

Related Customer Service Articles Subscribe to RSS

Flat Contractor expenses can keep your company afloat
Published by Crowin Smith on February 13th 2012 | Business
The business world is influenced by the changing tides of the global economy which can be brutal to ...
Boon’s of moving company services
Published by Tarvish on July 27th 2012 | Customer Service
While thought of relocating it may be quite exciting and it is also not an easy task. Moving has bec...
Could Quality Management Systems be useful within your company? > Please base article around this
Published by Julia Roger on June 18th 2012 | Business
This is why we take the time to sit down and talk to our clients, to ensure that our quality managem...
Is office cleaning the answer to your Birmingham company's cleaning projects?
Published by Johana Junior on January 4th 2012 | Customer Service
Most individuals and companies in Birmingham hire regular cleaners to tidy up their office space but...
Website Desing company delhi
Published by Innovativetech on July 5th 2012 | Business
Innovative Technosoft is a Professional Website Designing Company, offering affordable It Solutions...
Importance of mail and fulfilment services offered in UK for the improvement of the development in the company
Published by Diego Hall on April 17th 2012 | Business
the best option to make further profit is to hand over your business to the mail and fulfilment serv...
Tamin Theodore Kim makes business success with his software development company
Published by Colbert Raynard on March 20th 2012 | Business
Athena Software Services, Inc., owned by Tamin Theodore Kim, is just one of the prestigious third-pa...
Hydrocarbons One of the Best Cooling Agent Manufactured by oz-chill company.
Published by Oz Chill on February 8th 2012 | Business
It is natural occurring and non toxic gas that is not dangerous for user other gases are very danger...
British Gold Refinery is an online company.
Published by Ahmadgill on January 12th 2012 | Business
British Gold Refinery is an online company that is quick easy and convenient way to sell your gold a...
Eco friendly Promotional mugs and pens for your company’s marketing
Published by Julia Roger on July 12th 2012 | Business
There are a few that can be filled again whereas others contain nice smelling fragrances pooled with...
Scheduled shredding services help secure a company’s future
Published by Nancy Deholla on February 13th 2012 | Customer Service
Controlling where a company documents end up after their term is soon becoming a security concern wi...
When you are to choose forklift hire company
Published by Glyn Spyke Jones on May 8th 2012 | Business
Hiring the forklifts is the best alternative if your own forklift is not working due to some breakdo...
Moving company Dubai: Services and benefits of hiring a professional mover
Published by Edmund Brunetti on March 13th 2012 | Business
If you are moving to Dubai, you must take professional help of the best mover for a safe & secure re...
Austin home relocating company
Published by Austin Larck on April 18th 2012 | Business
Our Austin home moving companies have expert in shifting antique furniture and pianos and musical in...
Promote your company with Custom Umbrellas!!!!
Published by Sodablues on January 9th 2012 | Business

There is a broad array of custom umbrellas accessible in the market at the moment constituting, ...
How do you choose the best HR Software for your company?
Published by Mary Porter on June 16th 2012 | Business
Make it less or a nightmare and more of pleasure selecting new HR Software packages using a user-fri...
The services provided by a Groundwork London company
Published by James Blee on July 17th 2012 | Business
Groundwork London services tend to be undertaken by professional companies who specialise in all asp...
Choosing the best dumpster rental company
Published by Travis Killian on July 31st 2012 | Business
There are so many things you need to consider when planning to hire a dumpster rental service. As yo...
What are the Legal Requirements of Singapore company registration?
Published by Andrews Thomas on January 25th 2012 | Business
There are some easy requirements that the business owners should meet for Singapore company registra...
An ideal shifting company with unmatched service and competitive price
Published by Kumari Ankita on December 28th 2011 | Business
Welcome to No.1 movers as well as packers. You get unmatched services from us on the loading and unl...