How To Get an EIN (Tax ID) Number In Maine
A survey in the Bangor Daily News named Maine as one of the best states to start a business. This makes the area exciting for entrepreneurs, but as you get started, you will need to handle some business and tax essentials. That requires a federal employer identification number (EIN) and a Maine tax ID number.
To help you out, this guide explains how to apply for a Maine EIN number. Then, it answers some frequently answered questions about the differences between an EIN and a state tax ID.
How To Apply For A Tax ID Number In Maine
To get an EIN number Maine business owners need to gather the required information. Then, they can either apply online or through the mail. Keep reading for an overview of the two application processes.
Prepare The Required Information
The information you need to apply for a Maine EIN number is relatively straightforward. When applying for an EIN number Maine business owners need the following details:
- Legal and doing business as name.
- Business address and phone number.
- If applicable, where the LLC was formed or the business was incorporated.
- Name of the responsible party — must be an individual such as an owner, partner, or major shareholder.
- Contact details for the responsible party.
- Number of people you expect to employ this year.
- Expected date of first payroll payments.
If you expect to owe less than $1,000 in payroll tax for the year, you can also use Form SS-4 to opt to file payroll taxes annually. Normally, businesses must file quarterly and make deposits at least once a month. After you opt for annual filing, you must file annually until you contact the IRS to make other arrangements. This rule applies even if your payroll liability increases beyond the $1,000 threshold.
Apply Online
Applying for a Maine EIN number online is usually the easiest option. You simply enter the above details into the online application. Then, it generates your number very quickly. In most cases, you get the number the same day that you apply. In rare cases, you may need to wait a day or two.
Submit Your Application Via Mail
The other option is to apply for a Maine EIN Number through the mail. In this case, you need the same information noted above, but you need a paper copy of Form SS-4. Then, the IRS will mail you the number, and this takes about six to eight weeks. You can also fax in your application to speed up the process slightly. Note that mistakes on your application can cause significant delays in the process.
Frequently Asked Questions
Businesses face a lot of tax obligations, and it can be confusing to figure out the nuances between different types of tax ID numbers. To shed clarity on that issue, here are the answers to some frequently asked questions.
A tax ID number is a number that identifies your business to government taxation entities. Your Maine business may need several tax IDs including a federal EIN, a state withholding number, and a sales tax number. The numbers you need vary based on the type of business you operate.
No. The Maine Secretary of State does not issue EINs. To get an EIN number Maine business owners must complete the application process explained above. The federal government issues EIN numbers. The Secretary of State does not usually issue any tax ID numbers. However, you may end up working with this office to set up an LLC or to incorporate your business.
No, an EIN and a Maine tax ID number are not the same. An EIN is issued by the federal government and used on federal tax forms. In contrast, a state tax ID number is issued by the state of Maine and used on state tax forms. Generally, banks require you to use the federal number on banking documents such as account opening paperwork and loan applications.