Question: how to get a free tax ID number Michigan
12/10/2012 1:24 PM
Grand Rapids,
MI
MI.
Retail Trade
with
Staff. .
DiJennifer Johnsonsch
I am about to open a new
World Wide SuperCo.
Retail Trade
What tax ID do I need to buy wholesale?
Federal Tax ID Number vs. EIN.
Grand Rapids Kent County
, MI
49505.
Internet Home Business
If you starting a Internet Home Business based business, you may want to know that a New Home Based Business is started every 10 seconds and there are about 40 million Home Based Businesses in the USA of which 71% of the Internet Home Business Based Business succeed in about within 3 years versus 35% of regular business that succeed at the same rate.
In addition, it is cheaper to start a home based bsiness because 44% of Home Based Business are started for under $4,000 and, in addtion, most, 75% of Americans would prefer to be self-employed and a home based business provides this opportunity.
Finally, home businesses account for $450 billion per year from the total GDP. If you are a sole proprietor/owner, you will need a business license (business tax registration.
Home busineses are like any other type of business so they need to comply with all licensing requirement like any business. You have heard that I am just online or work out of home so I don't need to register my business. This is not true. You need to get all Internet Home Business licenses as any business.
If a Internet Home Business uses a trade name to do business, it needs a DBA (Doing Business As). However, if you incorporate or form an LLC, you do not need to file a DBA. If you will sell any type of merchandise or item in small or large amounts, even as a home business and even if just on ebay or just selling and making a few hundred dollars per year, you will need a seller's permit (salest tax id number). If decide to hire help, you will need a federal tax id number and a state employer tax id number. On this site you can get a free tax ID but also all other types of licenses and tax registrations including registering your business as an LLC and obtaining an LLC certificate or registering as a sole owner by getting a DBA certificate.
Should You File an LLC?
An LLC is a corporate business entity structure. You will be content with an LLC as a business structure. Starting Internet Home Business need to select an entity type because the type of entity determines the type of taxation and licensing. For example, a new Internet Home Business can be a sole proprietor, a partnership, a corporation, or an LLC. Forming an LLC has advantages such and better treatment from the Internal Revenue Service. LLCs need a business tax registration also called a Internet Home Business business license and a federal tax ID number. If the LLC is selling taxable merchandise, it needs to obtain a sales tax Id also called a seller's permit. |
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| THERE ARE 4 TAX IDS: A federal tax ID, a Sales Tax ID, a State Sales Tax ID, and a Business Tax Registration ID. Starting businesses need a tax registration business ID ( AKA business license or home occupation permit. ) If the business is a sole proprietor, it does not need a tax ID unless it is an employer, in which case it will need a federal ID and a State Employer ID (employer identification number). If the new small business will sell or lease any merchandise, equipment or sell any items wholesale or retail or buy wholesale, it will need a sales tax ID number also called a resale ID, a state sales tax ID, wholesale ID or resale license. In addition, if the new business, whether home business, online or commercial location, it will need to file a DBA doing business as certificate, if in fact is doing business and using a trade name. For example, if the business is a home based carpet cleaning business and it does business as Best Carpet Cleaning, it will need to register a fictitious business name ( AKA DBA) certificate. Finally, starting businesses must choose a business legal/tax structure. There are 4 major business entity structures: 1. A sole proprietorship, a partnership, an LLC, and a corporation. You can select any one of them. If you select a sole proprietorship, you will need at a minimum, a business tax registration (business license) and a trade business name registration. Corporations and LLCs need the business tax registration license, and a federal tax ID number. Partnerships need at least a federal tax ID number and a fictitious business name registration. Finally, anyone, even one person can be an LLC or corporation. |
Here is what tax ids you are legally are required to get for in
Grand Rapids, MI.
IMPORTANT:
Requirments below include Web based, Online, Websites, Home or eBay Businesses)
Answer:
Here is a list of tax number ids you need to start your own Grand Rapids small company.
All Businesses need a(n) , Grand Rapids
business tax id registration (business license).
All Businesses that use a business name to trade that is other than the surname and first name of a sole proprietor or a fictitious business name other than the LLC or Corporation legal name need a(n) Kent County DBA ( doing business as ) fictitious business name.
You may also need a tax id called a resale tax ID or seller's license if you selling touchable items. (A.K.A MIseller's permit, state id, wholesale, resale, reseller certificate).
In addition you will need a federal and a state EIN if you will hire employees.
I.e., a MI Federal Tax Id Number and a(n) MI State Employer Tax Number
Instead of filing a fictitious business name DBA Filing in
Grand Rapids, Incorporate in MI or form a(n) MI LLC
Actually there is not just one but four tax ID numbers. First there is a general business tax registration ID. Second there is a state reseller number. Third there is a state EIN number and a federal EIN number.
New businessess whether home or other types will need a general tax registration that could be a business permit and or license. Sole proprietors just need that plus perhaps a registration of a business name certificate if in fact the business is using an assumed business name. E.g. if the business is called "Superior Medical Billing" it will need to file a DBA. Other than that employer sole owners will need both a federal ein and a state ein and if selling any type of widgets such as items on eBay or Etsy will need a state reseller number also called a seller ID or resale number.
In addition if the new business whether home business online or commercial location it will need to file a DBA doing business as certificate if in fact is doing business and using a trade name.
Corporations and LLCs need the business tax registration license and a federal tax ID number.
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Here is a list of tax number ids you need to start your own Grand Rapids small company.
All Businesses need a(n) , Grand Rapids
business tax id registration (business license).
All Businesses that use a business name to trade that is other than the surname and first name of a sole proprietor or a fictitious business name other than the LLC or Corporation legal name need a(n) Kent County DBA ( doing business as ) fictitious business name.
You may also need a tax id called a resale tax ID or seller's license if you selling touchable items. (A.K.A MIseller's permit, state id, wholesale, resale, reseller certificate).
In addition you will need a federal and a state EIN if you will hire employees.
I.e., a MI Federal Tax Id Number and a(n) MI State Employer Tax Number
Instead of filing a fictitious business name DBA Filing in
Grand Rapids, Incorporate in MI or form a(n) MI LLC
Filing a DBA is not required if you will set up an LLC or form a Corporation.
Finally if you will have more than one owner you will need to obtain a federal tax id number to indentify the partnership.
If you will do business under your first and last legal name you will not need to get a fictitious business name.
Also note that even using your first and last name may not help you avoid filing a DBA if the name has a suffix such as "& sons" etc.
FIRST STEP: Ensure that you secure
related tools such as specific equipment .
SECOND STEP: I am planning to hire employees and want a stategy to reduce small business taxes employment taxes. find where your Grand Rapids
business location (you home can be a business location).
THIRD STEP: Obtain tax ID number(s) and licenses. Here is the minimum registrations you need:
Some tips for reducing your self employment tax among others is to form an S corporation. Then pay yourself in dividents instead of salary because salary is subject to tax but dividents are not.
If you have a partner you will need to register the company name and obtain a federal ID.
If you are a service type of business but you also use parts you will need a sellers permit also called a resale license or resale certificate AKA sales tax id or seller's permit to collect taxes and or buy wholesale.
Any businesses that sell prepared food need a seller's sales tax id number license.
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In addition to a government small business loan from the small business administration you may be able to find other sources such as private loans or help from relatives.
When you start your own merchandise selling -- you need a merchant account which is simply a checking account used to process credit card transactions.
Don't forget to get a state of the art website with your contac - merchandise - and shopping cart.
After you obtain a domain name you will need a host to host your domain and the website.
After you obtain a website you will also need a shopping cart to sell your services.
Do not forget that your business cards are a good form of advertising.
In most cases where you starting your own small company you will not need a small business consultant.
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Company: What is the tax ID total cost?.
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