How To Get an EIN (Tax ID) Number in New Hampshire
New Hampshire has a higher-than-average cost of doing business compared to other states, but it also has a very well-educated workforce, a charming atmosphere, and low corporate taxes. If you’re thinking about buying or starting a business in this state, you will need to take care of a variety of tax options — and that process starts with obtaining a federal employer identification number (EIN) and a New Hampshire state tax ID.
To help you out, this guide outlines the steps of how to get an EIN. Then, it talks about the differences between an EIN and a New Hampshire tax ID number. Note that once you get an EIN, you can start using it right away, and it never expires. In other words, you can even get your EIN before your business actually needs it so that it’s ready when you need it. To get an EIN number New Hampshire residents need to know the following.
How To Apply For A Tax ID Number In New Hampshire
To get a tax ID number in New Hampshire, you need to gather basic details about your business. Then, you need to decide if you want to apply online or through the mail. Keep reading for more details on both of these options.
Prepare The Required Information
To complete the application for an EIN number New Hampshire business owners need basic details about their businesses. This includes legal name, trade name, address, type of business entity, and principal line of merchandise. If you’re applying for an EIN for a trust, estate, retirement account, or other type of entity, you need its name, address, and type of entity.
When filling out the application, you also need answers to the following questions.
● If applicable, when is the first date you plan to pay wages?
● How many people are you going to employ this year?
● Are any of your employees classified as household or agricultural employees?
● If you anticipate owing less than $1,000 in payroll tax, do you want to file your payroll tax forms annually instead of quarterly?
● Do you need to withhold tax from any contractor payments?
● Is your business incorporated? If so, provide details about where it was incorporated.
● Is your business an LLC? If so, where was the LLC formed?
● Why are you applying for an EIN?
Once you have answers to the above questions, you’re ready to start the online or mailed application.
Want to get your EIN as quickly as possible? Then, you should apply online. Give yourself an hour — it will probably take about 25 minutes, but schedule an hour to be on the safe side. Once you hit submit, the program should generate your number right away in most cases.
Submit Your Application Via Mail
Alternatively, you can apply for a New Hampshire EIN number through the mail. Just print and complete Form SS-4. Then, mail it in and wait for the government to send you a number. It usually takes about four to eight weeks to get a number.
Frequently Asked Questions
Here are answers to some common questions about getting a New Hampshire EIN number.
A tax ID number is a number that you use to identify your business on state tax forms. You need this number to file federal and state tax forms. In New Hampshire, you need an EIN if you are going to withhold payroll taxes, pay excise taxes, or file standalone business tax forms such as partnership or corporate returns.
No, the Secretary of State does not issue EINs. To get an EIN number New Hampshire residents must contact the IRS. To get state tax IDs, you need to contact the New Hampshire Department of Revenue Administration. However, you may still need the Secretary of State’s help for creating an LLC, registering articles of incorporation, or other issues related to forming your business.
An EIN is a type of tax ID for New Hampshire businesses, but it is not the same as a New Hampshire tax ID number. The EIN is for federal taxes, and you also use it on banking forms. The state tax ID is for state tax forms.