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Check order status Dashboard Sign out Sign in. Give us a call. Essential for most businesses If your business will have employees or file taxes, you probably need a federal tax ID from the IRS. Often required for business banking Banks usually ask for a federal tax ID before opening a business bank account or line of credit.
Apply for a federal tax ID
Helps shield against identity theft Sole proprietors may use a federal tax ID to help keep their own Social Security numbers private. What is a federal tax ID? Who needs a federal tax ID? If your business hires employees, has a bank account, or pays taxes, then you probably need a federal tax identification number.
Employer Identification Number
Why would a sole proprietor need an EIN? If you're a sole proprietor with employees, a Keogh plan, or you need to pay certain federal taxes including excise and alcohol, tobacco, and firearms taxes then you'll need an EIN. But even if you don't need an EIN, it might be a good idea to have one, as it can help protect you from identity theft. The type of entity and the date the business started are both required pieces of information when you apply for your federal tax ID.
We are a document filing service and are not affiliated with any government agencies. Over annual celebrations are held within Louisiana a year making it the Festival Capital of the world. Why not make it by starting your new business there? Louisiana has implemented numerous state level business incentive programs, such as a low business tax rate, that are designed to help their businesses succeed.
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In addition, with the major port at New Orleans businesses in Louisiana can easily ship products anywhere in the world. When you start a new business it can be easy to get lost in the jargon and forms. What is a trust?
Apply for FEIN
Our online application is an easy way to apply for and receive your Federal Tax ID number. Other methods will require some waiting, however. If you're applying by mail, you should allow four to five weeks to receive your new tax ID number. So if time is of the essence, do yourself a favor and apply online.
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These steps may seem tedious when you're working day and night to get a new business off the ground, but by taking care of your ID number right off the bat, you'll save yourself a mountain of tax-time headaches. About the author: Gregory M. Prior to joining Credibly, Gregory worked in investment banking, private equity, and corporate finance.
He received his MBA in finance and strategic management from Indiana University's Kelley School of Business and his bachelor of science in finance and economics from the University of Dayton.