Obtain a Tax ID (EIN) Number in Missouri | Tax ID Application
Obtaining a Missouri Tax ID (EIN) Number? Find out how to apply online using our simple Missouri Tax ID Application Guide. Be prepared with identifying information of each all partners, even if you own a Corporation, Trust, Non-Profit, Partnership, Estate or multi-member LLC. This article will serve as professional guidance when applying for your official Tax ID (EIN) Number in Missouri.
Steps to Obtain a Tax ID (EIN) Number in Missouri:
- Prepare Required Information
- Apply for a Missouri Tax ID Online
- Apply for a Missouri Tax ID by Phone, Mail or Fax
- What Is a Missouri Tax ID Number?
- How Do I Get a Tax ID Number for a Missouri LLC?
- How Do I Get a Missouri State Tax ID Number?
1. Prepare Required Information
To get a tax ID number in Missouri, you’ll need to fill out an application, covering important pieces of information about you and your business. To make this process faster, it’s a good idea to gather all the information you need ahead of time- so you don’t waste time tracking it down when you’re in the middle of the application.
To start, you’ll need the full legal names and addresses of all cofounders and partners in your business- if you don’t already know them by heart. You’ll also need to have their social security numbers. Finally, you’ll need to decide your business name (if you haven’t already).
2. Apply for a Missouri Tax ID Online
There are two main ways to apply for a tax ID, and one is objectively better than the other. You can apply for your tax ID online, which is better in every way, or you can apply through a traditional method, like phone, mail, or fax.
Applying online is the way to go. It’s very convenient since you can access the online application anywhere you have an internet connection. Filling out the application online should also be faster than filling out a physical application. On top of that, you’ll have a much faster application processing time. Whereas traditional application processing can take on the order of several weeks, an online application can be processed in as little as an hour. After that hour is up, your tax ID will be emailed to you, and you’ll be ready to start your business much faster than in any other method.
3. Apply for a Missouri Tax ID by Phone, Mail or Fax
That said, you do have the opportunity to apply for a tax ID in one of several other, more traditional processes. For example, you can fill out a paper application and mail it in, or fax it in, though this takes more time and is less convenient for most business owners. You can also answer the applications over the phone, in a kind of interview format.
There are no real advantages to these application methods. Most of them are less convenient and take more time than other methods. Plus, they take much longer to process- sometimes up to 4 to 6 weeks, compared to the single hour of processing time for online applications.
4. What Is a Missouri Tax ID Number?
You may have heard about a “Missouri tax ID number” or a Missouri state tax ID number and may have wondered whether this is the same as a standard tax ID.
There are actually two types of tax IDs Missouri businesses will need to consider. For starters, there’s the federal tax ID, often referred to simply as a “tax ID,” and sometimes called an employer identification number, an EIN, or a federal employer identification number, or FEIN. This ID number registers your business with the federal government and is necessary if you’re going to hire employees, or if your business has multiple partners or cofounders. You’ll also need this if you plan on applying for a business line of credit, a business bank account, or one of several business licenses and permits.
Your Missouri state tax ID number, or Missouri tax ID, is a separate number. It serves as another unique ID number but is necessary for completely different reasons. You’ll need a Missouri state tax ID to register for Missouri-level taxes, so you’ll need one if you hire employees in Missouri, if you sell taxable goods and services in Missouri, or if you’re going to owe excise taxes on Missouri products.
5. How Do I Get a Tax ID Number for a Missouri LLC?
The process for getting a tax ID number for a Missouri business is mostly the same, no matter which type of Missouri business you own. Some types of sole proprietorships, and LLCs with only one member, may not need a tax ID- but the majority of businesses will.
If your LLC needs a tax ID, you’ll need to fill out an application with the requisite information about your business, then wait for that application to process. There are a few different options, but they all follow mostly the same formula. Applying via a traditional method, like phone, mail, or fax, takes much longer- sometimes taking weeks for your application to finish processing. However, applying online is universally faster. You’ll be able to fill out the application much faster and more conveniently, and in most cases, you can receive a tax ID for your Missouri LLC in less than an hour.
6. How Do I Get a Missouri State Tax ID Number?
So what if you need a Missouri state tax ID number? You’ll need a federal EIN if you’re hiring employees, if you’re applying for business credit, or if you’re going to have multiple business cofounders. If you’re selling taxable goods and services in Missouri or if you’re hiring Missouri employees, you need to get a Missouri state tax ID in addition to your federal tax ID.
Thankfully, the process for applying for a state tax ID is very similar to applying for a federal EIN. You’ll need to fill out an application, answering many of the same questions about your business, then submit that application for processing. Processing state tax IDs takes longer than processing federal tax IDs, so be prepared for a wait time of a few days to a few weeks. Still, applying online is faster; completing the application is easier and more convenient, and the processing time is much quicker.