2006-12-12 04:06:33 · 8 answers · asked by fox292000 1 in Business & Finance ➔ Taxes ➔ United States
If the business is a corporation or partnership, it will need to have it's own tax ID number. If it is a sole proprietorship (i.e. Schedule C business), you can either use your social security number or apply for a separate tax ID number for the business. If you have employees and have a payroll, it is easier if you have a separate tax ID number and separate accounts for the business.
2006-12-12 04:55:35 · answer #1 · answered by jseah114 6 · 1⤊ 0⤋
It all depends. If you run a one-person business and don't need a sales tax permit, store license, or Employer ID, and don't open a bank account, you might not have to provide your tax ID number to anyone.
In the real world, you need an employer ID if you hire anyone or if you incorporate the business. You might avoid opening a new bank account, but if you open a business account the bank will want an ID number.
Answering your question with a 'yes' or 'no' is not possible since either answer could be wrong. More likely a 'no' would be wrong since you can't exist in a vacuum.
2006-12-12 08:12:05 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Yes, you will need a tax ID number to register your business. Although depending on the type of business entity, the business may not need to file income tax (income and looses will just be passed into your personal income tax), you still need it to report sales tax for example.
This tax ID is call Employer ID Number (EIN). The application is really easy. You can mail an application, apply online or over a phone. Go to http://www.irs.gov/businesses/small/article/0,,id=98350,00.html for more information about EIN.
Best wishes.
2006-12-12 08:08:10 · answer #3 · answered by JQT 6 · 0⤊ 0⤋
do no longer deliver them something!!! that's a rip-off to get your IRS and banking information for fraudulent applications. that's a sturdy element you asked approximately it beforehand you probably did something--they would not in any respect ask you for this information with the aid of an digital mail. that's regularly a "Phishing" rip-off--and you certainly can delete this mail and forget approximately approximately it. on no account EVER EVER click on any link in an digital mail, whether it style of feels like that's from a valid source, which you haven't any longer solicited. Pay pal is the sufferer of many such scams--the place senders of those mails request all varieties of TAX information or monetary employer information. they are all fraud. If the IRS mandatory this the help of you they could write you a paper letter--they could certainly on no account touch you by employing digital mail for it.
2016-12-18 12:02:19 · answer #4 · answered by ? 4 · 0⤊ 0⤋
Yeah
2006-12-12 04:31:54 · answer #5 · answered by Rita 3 · 0⤊ 0⤋
No. But yes, if you plan on doing anykind of commercial business and/or filling taxes using your business.
2006-12-12 04:10:45 · answer #6 · answered by Reel Homme 2 · 0⤊ 0⤋
Yes
2006-12-12 04:10:00 · answer #7 · answered by Anonymous · 0⤊ 3⤋
there is no other way to do so yes you have to for uncle sam to get to know you better gl
2006-12-12 04:17:11 · answer #8 · answered by Anonymous · 0⤊ 0⤋