How to Get an EIN (Tax ID) Number in Vermont

Whether you’re a first-time business owner, an established business owner getting ready to hire your first employee, or someone in charge of an estate with taxable income, it’s critical to know how to get a Vermont EIN number. Your Vermont tax ID number identifies your business to the IRS, and it is important for filing employer tax returns, standalone business returns, and excise returns. Banks also request this number from business clients.

But how do you get this number? Well, it all starts with Form SS-4, your application for a federal tax ID number. Then, you’ll be able to obtain this 9-digit tax ID number that looks like this: 12-3456789. Here’s an overview of the application process.

How to Apply for a Tax ID Number in Vermont

When you need to apply for an EIN number Vermont residents should know that it’s an easy, two-step process: just gather your information and apply, either on paper or online.

Prepare the Required Information

Begin the process by getting together all the information that you’ll need to complete the application. You’ll need the following:

●     The legal and trade name of the entity receiving the EIN

●     The entity’s location, including its mailing address, street address, and county

●     The type of entity, e.g. sole proprietor, partnership, corporation, estate, church, nonprofit

●     The reason for applying for an EIN, e.g. new business, acquired business, new employees, compliance with IRS withholding, banking reasons

●     The highest number of employees the entity expects to have in the next year

●     The first date that the entity paid wages to employees

●     The third-party designee’s name, if one is used

Then, also think about why you need this number. The main reasons include hiring employees, opening bank accounts, applying for business loans, changing your structure, or buying an existing business.

Apply Online

For an expedited EIN number Vermont residents should consider applying online. Applying for a Vermont tax ID number is fast and easy when you do it online. Generally, you receive your new EIN for immediate use.

For the process of applying for an EIN number Vermont employers can follow the steps as they’re guided through the online application.

You do have to qualify to apply for a Vermont EIN number online. To apply online, you must:

●     Have a principal business location in the US

●     Have a valid taxpayer identification number (TIN)

●     Have not applied for an EIN already on the same business day

Before you sit down to apply online, make sure you’ve set aside enough time to complete the single-page form without interruptions. If the application times out, you may lose your application and have to start over from scratch.

Submit Your Application Via Mail

You can print a copy of the Form SS-4 and complete it to apply by mail. After filling out the form to completion (double-check that you’ve answered every line that applies to you), sign it and mail it off to the address provided in the instructions.

If you need an expedited EIN number Vermont residents should know that it takes 4 to 5 weeks for the Form SS-4 to be processed by the Internal Revenue Service (IRS). Online is much faster. Again, you usually get your number right away.

Frequently Asked Questions

You probably have questions if you’re not already an expert on employee identification numbers. Here are some of the questions that are the most common:

What Is A Tax ID Number (EIN) & Do I Need One?

An EIN is a federal tax ID number that’s used by the IRS to identify individuals or entities that are employers. It’s a 9-digit number in the format 12-3456789. If you employ anybody, even one employee, then you need an EIN.

Are EINs issued by the Vermont Secretary of State?

An EIN is actually a federal tax ID, not a state one, so it’s issued by the Internal Revenue Service (IRS) instead of the Vermont Secretary of State. This is true in all states – no states issue their own EINs.

Is An EIN The Same As A Vermont Tax ID Number?

Yes, an EIN is the same as a Vermont tax ID number, specifically for businesses. There are other types of tax ID numbers, such as TINs (taxpayer identification numbers) and SSNs (social security numbers).