Looking to obtain your Tax ID (EIN) Number in Kentucky? This short Kentucky Tax ID Application Guide will walk you through the basic steps you need to follow to apply for your Tax ID (EIN) Number in the state of Kentucky. Whether you need a Tax ID Number for a Partnership, multi-member LLC, Tax ID for a Corporation, Non-Profit, Trust or Estate, this guide will help you learn what you need to know to obtain your official IRS Tax ID Number within minutes.
Steps to Obtain your Tax ID (EIN) Number in Kentucky :
- Prepare Required Information
- Apply for a Kentucky Tax ID Online
- Apply for a Kentucky Tax ID by Phone, Mail or Fax
- What Is a Kentucky CBI Number?
- How Do You Apply for a Kentucky CBI Number?
- How Do I Get a Kentucky State Tax ID Number?
If you want to get your tax ID as quickly as possible and make life more convenient for yourself in the process, you’ll want to gather the requisite information before you begin the application process. The idea is to gather all the information you’ll need to answer the application’s questions, so you can complete the application faster.
At a minimum, you’ll need the following:
- Names and addresses. First, you’ll need to gather the full legal names and legal addresses of all your founding business members.
- Social security numbers (SSNs). You’ll also want to get the social security numbers (SSNs) of all those members.
- A business name. This application will register your business with the government, so you’ll need to provide your business name.
There are a few different possible approaches for getting your tax ID. However, there’s one method that’s demonstrably better than the others, and for every type of business: applying online. While it’s possible to apply via a traditional process like phone, mail, or fax, applying online is both faster and more convenient.
You can access the online application from any device that has an internet connection, which makes it markedly more convenient than other traditional methods. The application itself is easy to understand, and shouldn’t take you long to fill out, especially if you’ve already gathered the right information. Assuming you have this information in hand, you should be done in 5 minutes or less.
After you’re done with the application, you should receive your tax ID by email in less than an hour. This gives the online application a much faster turnaround time than similar traditional methods. Getting that tax ID faster means you can start your business faster.
Applying for your tax ID online is recommended for every business. However, there are some alternative, traditional methods that will allow you to get your tax ID by mail. If you’re willing to go through the steps of completing a paper application, you can mail it or fax it in. If you want to answer questions about your business over the phone, you can do that as well. The problem with these methods is that, in addition to being less convenient, it takes up to 4 to 6 weeks to receive your tax ID by mail. Most entrepreneurs can’t afford to wait that long.
You may have heard that your Kentucky business needs a CBI number. This stands for Commonwealth Business Identifier number, and is another name for your Kentucky state tax ID number. Note that this is distinct from your federal tax ID number, which is sometimes simply called a “tax ID,” and is sometimes called an employer identification number, or EIN.
These two ID numbers are used for different purposes. For example, you’ll need a federal tax ID number (EIN) if you’re going to hire employees, if you’re going to have multiple business partners, or if you’re going to open a business bank account or apply for business credit. You’ll also need one for most applications for business licenses or permits.
If your business exists in Kentucky, you’ll also need a CBI number. This is a mandatory 10-digit number that applies to all businesses, and is distinct from your federal tax ID.
Your Kentucky CBI number is used for a variety of purposes. It helps the state government of Kentucky keep track of various businesses, and calculate things like sales tax and excise taxes. You may also need to provide your Kentucky CBI number when you apply for various things, like permits, licenses, or certifications.
You can apply for your Kentucky CBI number as soon as you have a federal tax ID. Once you have that number, you can apply for a CBI number in one of several different application methods. Like with a federal tax ID, you can apply with a traditional method (such as over the phone, by mail, or by fax), or you can apply online. The online application process is faster and more convenient, so it’s the preferred option for nearly all business owners. Do be prepared for an extended wait time, however. Even if you’re prepared with all the right information and you apply online, it can take up to 4 to 6 weeks to receive your CBI number.
Your Kentucky state tax ID number is another name for your Kentucky CBI number. If you’re going to be operating in Kentucky, you’ll need this 10-digit, unique identifying number.
The first step to getting a Kentucky CBI number is getting your federal tax ID. You’ll need this number for several functions on its own, including keeping track of employee-related taxes and applying for business-related financial accounts. It’s recommended that you apply for this number online, so you can get your tax ID in an hour or less.
Once you have a federal tax ID, you can apply for your Kentucky CBI number. You’ll have several options for this application process, but the fastest and most convenient method is, once again, to apply online. Even if you complete the application quickly and apply online, it may take up to 4 to 6 weeks to receive your Kentucky CBI number.