How to Register for an EIN in North Carolina –

One of several steps most businesses will need to take when starting a business in North Carolina is to register for an Employer Identification Number ( EIN ) and North Carolina country tax ID numbers. These numbers are most normally used to register a business with the union and express government in order to pay sales taxes, payroll taxes, and withhold taxes from employee wages .
Let ’ s review in more detail what this number is used for when it is required, the cost, and how to register .
Also See: Guide to Starting a Business in North Carolina

What is the Employer Identification Number (EIN)?

EIN is short for Employer Identification Number and is sometimes referred to as a Federal Employer Identification Number, FEIN, Federal Tax Identification Number, or Federal Tax ID Number. This is a singular nine-digit count that is like to a social security number for an person but rather identifies a business.

The EIN is chiefly needed to hire employees, as the EIN is used as the account for paying payroll taxes, income tax withholdings, and unemployment taxes .
Some early uses of the EIN include :

  • Opening a bank account – Banks need an EIN (or SSN if the EIN isn’t needed) before opening a business bank account.
  • Applying for business licenses & permits – Most North Carolina business licenses and permits will require the EIN (or SSN in some cases) before filing an application.
  • Filing tax returns – To file state and federal tax returns, the EIN is used to identify the business.

Who needs an EIN?

The EIN is needed for North Carolina businesses that are either :

  • Registered as a partnership, corporation, or multi-member Limited Liability Company, or;
  • A sole proprietorship or single-member LLC that has employees

The EIN is optional for sole proprietorships and single-member LLCs without employees. Those business entities will use the owner ’ s social security phone number ( SSN ) or Individual Taxpayer Identification Number ( ITIN ). While it ’ sulfur not required, using an EIN in identify of the owner ’ s SSN can help protect the owner from identity larceny .
Related: How to register for an EIN without an SSN

How to apply for an EIN

The easiest and fastest way to apply for an EIN is to visit the Internal Revenue Service ( IRS ) web site, between the hours of 7 am – 10 phase modulation EST, Monday – Friday .
The on-line lotion process only takes about 5 minutes to file the EIN on-line, and the total will be ready in seconds. If put on on-line international relations and security network ’ t an option, you can besides complete an EIN application by mail or fax by sending Form SS-4 to the IRS facsimile number 855-641-6935 .
You can even get an EIN over the call if the ship’s company was formed outside the U.S. by calling 267-941-1099. If file by call, notice that it isn ’ t a toll-free number.

There is no cost to apply for an EIN .
See how to register an EIN in this video:

If you prefer to have some guidance in applying for an EIN, companies like If you prefer to have some guidance in applying for an EIN, companies like LegalZoom can promptly take caution of the registration.  

What Information Do I Need to Get an Employer Identification Number?

Applying for an EIN is pretty aboveboard, but you will need to obtain some information advance, such as :

  • Legal name of the business
  • Business address
  • Name(s) of the principal officer, manager, or owner
  • Name(s) and contact information of the owners, directors, officers, or members
  • Type of business and what activities the business performs
  • Date the business was started or acquired
  • Closing month of the entity’s accounting year
  • Number of employees expected to be hired
  • Contact information

Within seconds, the IRS will provide the EIN that can be used immediately. A few weeks late, the IRS will send the official paperwork, known as an EIN Confirmation Letter ( CP 575 ) .

Is an EIN the same as a tax ID number?

In addition to registering the EIN, many businesses will besides need to get department of state of North Carolina tax numbers in orderliness to pay for a kind of state business taxes .
business tax numbers in North Carolina are much confused with the Employer Identification Number. The EIN is a distinguish number that is used to federally register a commercial enterprise with the Internal Revenue Service ( IRS ) and may be needed in addition to state tax numbers. The most common reasons a business in North Carolina will need to register for a state of matter occupation tax numbers include :

  • Sales Tax – Businesses selling products and certain services are required to collect sales taxes and will need to register with the North Carolina Department of Revenue. Learn more about registering for a North Carolina sales tax number.
  • Employees – Businesses hiring employees will need to register with the North Carolina Department of Revenue to get a Tax ID Number and the North Carolina Division of Employment Security to get an Unemployment Insurance Tax Number. Learn more about registering as an employer in North Carolina.

How much does it cost to get an EIN in North Carolina?

There is no monetary value for an EIN when you apply directly through the Internal Revenue Service .

Should I get an EIN or LLC first?

Be certain to register your LLC or Corporation before registering for an EIN. You should wait until the identify of the entity is confirmed with the North Carolina Secretary of State before registering the EIN .
Related: How to register for an LLC in North Carolina

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Category : Finance

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