The Hawaii Tax ID Application Guide is the answer to your EIN problems. You may be a Corporation, an Estate, LLC, or Partnership and know you need a Tax Identification Number in Hawaii. If you do not know how to obtain it, though, it is the application guide that will help get you there. You can apply for an EIN right over the Internet with a great deal of ease. The validation of the information happens near instantly and you can have the number necessary in less than 60-minutes.
Steps to Obtain your Tax ID (EIN) Number in Hawaii:
- Required Information
- Apply for a Hawaii Tax ID Online
- Apply for a Hawaii Tax ID by Phone, Mail or Fax
- What’s the Difference Between a Federal EIN Number and State Tax ID?
- Do I Need a Federal Tax ID Number to Do Business in Hawaii?
- How Do I Get a Hawaii State Tax ID Number?
When you apply for a tax ID, you’ll need to answer several questions about you, your company, and your founding members. Because you’ll want to complete the application as quickly as possible, it’s in your best interest to understand these questions in advance, and gather all the information you need to answer them quickly.
To start, make sure you know the full legal names and legal addresses of all your founding members, including yourself and any business partners you have. You’ll also want to write down their social security numbers (SSNs). In addition, you’ll need to have your business name finalized. If you haven’t completed that decision, now’s the time.
No matter what, if you want a tax ID, you’ll need to answer several questions about your business in a formal application. However, there are several different methods you can use to complete this application. Traditional methods, like applying by phone, mail, or fax, do exist, but it’s universally better to apply online.
Applying for your tax ID takes the stress out of the process, and enables you to get your tax ID quicker. Rather than being forced to find and fill out a paper application or waste time answering questions over the phone, you can access the application at any time, and with any device that has an internet connection. Filling out the form online is easy, and if you’ve gathered all the requisite information on your business beforehand, you should be able to finish the application in a matter of minutes. Once that application is complete, you can expect to receive your tax ID via email in an hour or less.
Even though applying for your tax ID online is better in every situation, and for every business, there are alternative methods of application available. For starters, you could fill out a paper application, then mail it or fax it in. You could also answer the applications over the phone, if you’re willing to tolerate the interview style of the process. These methods are generally less convenient than applying online, but the big pain point is how long you have to wait to get your tax ID afterward; if you apply using a traditional method, you’ll be stuck waiting 4 to 6 weeks to get your application by mail.
The term “tax ID” usually refers to your federal tax ID number, otherwise known as an employer identification number or EIN. This number is required if your business has multiple founding partners (like in a partnership, corporation, or LLC with multiple members), or if you’re going to hire employees. You’ll also need one if you’re going to apply for a business bank account or loan, or if you’re applying for any business license or permit.
State tax ID numbers are unique numbers given to your business, but you’ll need one for slightly different reasons. If you’re going to hire employees in the state of Hawaii specifically, you’ll need to get a Hawaii state tax ID number. You’ll also need to get a Hawaii state tax ID number if you’re going to sell taxable goods and services in the state of Hawaii, or if you’re going to owe excise taxes on regulated goods like tobacco, alcohol, or gasoline. You can get a Hawaii state tax ID number once you have a federal tax ID number, and you have the option of applying online or through a traditional application method.
You may wonder if you need a federal tax ID number before you start conducting business in Hawaii. The short answer is “probably.” Most businesses will require a federal tax ID number for one reason or another, and there are several situations that require a tax ID.
For example, you’ll need to have a federal tax ID if you’re going to hire any employees, or if your business includes multiple members. You’ll need a federal tax ID for most financial purposes as well; if you’re going to get a business bank account or a loan, you’ll need a tax ID before you qualify. You’ll also need a federal tax ID when you apply for any business permits, licenses, or certifications. And you’ll need to have one in place before you can get a Hawaii state tax ID number. If you’re not sure if you need one, it’s best to get one, just in case.
You may also need a Hawaii state tax ID number. You’ll definitely need one if you’re hiring Hawaii employees or selling taxable goods and services in Hawaii, and you may need one in other situations as well. Fortunately, the process for getting a Hawaii state tax ID is straightforward. Once you have your federal tax ID number in place, you can either apply for your Hawaii state tax ID online or apply for it via phone, mail, or fax.
As you might suspect, it’s much faster and easier to apply for your Hawaii state tax ID online. It’s easy to navigate the online application form, and if you have the right information in front of you, it shouldn’t take much time. However, you should be aware that state tax ID numbers take longer to obtain than federal tax ID numbers, and you may end up waiting 4 to 6 weeks to receive yours.