tax id, ein

Discussion in 'Business Operations' started by cooksjr537, Feb 25, 2006.

  1. cooksjr537

    cooksjr537 LawnSite Member
    Messages: 116

    I got my ein or federal tax id number yesterday what do i need it for and what can i use it with, benefits or what not.
  2. Woody82986

    Woody82986 LawnSite Silver Member
    from DFW, TX
    Messages: 2,128

    Why did you obtain one if you don't know what to use it for? An EIN is for tax purposes when you file every year. It is also how our state might keep track of your sales tax colections. Its like your social security number, only for your business.
  3. Anthony-MB

    Anthony-MB LawnSite Member
    from georgia
    Messages: 109

    from what I understand you only need a federal tax id
    if your business is something other than sole prioitor(sp?)

    HOOLIE LawnSite Gold Member
    Messages: 3,981

  5. rodfather

    rodfather LawnSite Fanatic
    Messages: 9,501

    here in nj they ask for it at dmv when you register your commercial vehicles
  6. lwcmattlifter

    lwcmattlifter LawnSite Senior Member
    from NC
    Messages: 859

    You need an EIN to open a business bank account also. Every business bank account I have opened always requires it.
  7. PGA

    PGA LawnSite Senior Member
    Messages: 710

    The only reason you need an EIN if you are an EMPLOYER.

    If youre not then you can use you SS# to file you taxes and open bank accounts.
  8. cooksjr537

    cooksjr537 LawnSite Member
    Messages: 116

    I read on the irs website you have to have an ein number if you are in a parternship which i am in.

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