I am trying to apply for a Tax ID for A benefit would that be the same as a Trust?

Answer 1

No. A trust is a legal entity that holds title to property or assets for the benefit of one or more beneficiaries according to the instructions of the person or organization that set up the trust. A trust would have its own tax ID but a tax ID doesn't make a trust.

For example, a parent may have substantial stock and property holdings. Instead of passing them to their children through their will where the kids could squander the inheritance without restrictions, the parent might set up a trust and transfer their property to the trust's ownership and control. The trust might be instructed to pay the children's college bills plus a monthly stipend for living expenses and then increasing annual amounts as the child matures and is more able to manage money responsibly.

Answer 2

A tax ID is just that. A number that denotes what your tax status is in a particular state. A trust is a very complex legal document that guards someone's assets.

You didn't say what the tax ID is for, so I don't know if I can help you further. Good luck!