state tax id number in illinois? On Thu, 10 Jun 2010 20:10:34 GMT starting  . a

religious organization ( church )

        Tax Exempt Status with 0 employees in springfield,  , 62703,                  

Here’s what permits and tax id number (s)  you are required to get 1. A business license. 2. A DBA certificate, and 3. it is recommended that you get a federal id to use as a business id instead of using your social security number.  Most small business advisors recommend that you form an LLC limited liability company or incorporating instead of filing an assumed business name certificate ( DBA) .  Forming an LLC or incorporating is probably the most inexpensive business insurance protecting your personal assets.   For example, if you are sued for something that arose out of a business transaction, plaintiffs cannot go after your house or car if you are incorporated or have formed an LLC.   Finally, if you do form an LLC or incorporate, you don’t need to get a DBA, but you will need to obtain a federal tax id number because a fed id is the business tax id for the corporation.

           

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Frequently Asked Questions:

Q: I started a business as a partnership but never really took off. Do I still need to file an IRS return?
A: If you filed for a a partnership but never started a business, you need to file a tax return anyway and just fill out the gross business income as zero. Otherwise the IRS will charge you with a penalty for non filing the return.

Q: What if the independent contractor is an LLC or corporation, do I still need to send them a 1099 form?
A: To be safe, yes, send everyone that does any work for you for more than $600 a 1099 form.

Q: What is the threshhold before I am required to file a business tax return?
Even if you made $0 dollars, you still need to file a business tax return.

Q: What is an EIN Used For?
A: You can use an EIN to pay employment taxes withheld and use it as a corporation, LLC or business tax ID number as a sole proprietor or partnership or you can combine any of the previous uses of an EIN.