Obtain a Tax ID (EIN) Number in Virginia | Tax ID Application
Obtaining a Virginia Tax ID (EIN) Number? Find out how to apply online using our simple Virginia 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 Virginia.
Steps to Obtain your Tax ID (EIN) Number in Virginia:
- Prepare Required Information
- Apply for a Virginia Tax ID Online
- Apply for a Virginia Tax ID by Phone, Mail or Fax
- How Do I Get an EIN Number in Virginia?
- How Do I Get a State Tax ID Number?
- How Do I Get a Virginia State Tax ID Number?
1. Prepare Required Information
The process will flow much more smoothly if you gather all the necessary information before you begin your application. That way, you don’t have to reach out to other people or scramble to get information in the middle of the process.
You’ll need the full legal names, legal addresses, and social security numbers of all founding members of the business, including yourself and all your business partners. The application for your tax ID will register your business with the government, so it’s important this information is accurate. It’s also important that you have the legal name of your business decided on before you begin.
2. Apply for a Virginia Tax ID Online
A couple decades ago, it was only possible to apply for a tax ID in person, by mail, or through a similarly traditional process, but today, thanks to the internet, it’s much easier. You can apply for your tax ID online, which is vastly more convenient and ultimately, faster. And since you’ll want to get your business started as quickly as possible, speed is of the essence.
Applying online is far more convenient than traditional application processes, since you won’t need to handle any paperwork, and you don’t need to go anywhere specific-as long as you have an internet connection, you can complete the process. The online application itself will ask you several questions about your business and your partners, and since you’ve already gathered that information, it shouldn’t take you long to complete. Once the application is complete, it should be able to process in less than a day- and in many cases, you’ll receive your tax ID via email in less than an hour after completion.
3. Apply for a Virginia Tax ID by Phone, Mail or Fax
Despite the convenience and prevalence of online applications, it’s still possible to apply for your tax ID by a traditional method- namely, phone, mail, or fax. If you apply via phone, you’ll answer many of the same questions over the phone with an official representative. You can also print or otherwise acquire the right paperwork, fill out the application by hand, and send it in (through mail or fax). The application is mostly the same, though it may take longer to fill out in these traditional methods. The real disadvantage here is the time it takes to process- instead of waiting an hour, you could wait 4 to 6 weeks or longer to get your tax ID via traditional mail.
4. How Do I Get an EIN Number in Virginia?
If you’re interested in getting an employer identification number (EIN), another name for your tax ID, you’ll need to fill out an application that includes important information about your business and its founding members (this information is listed in a section above). This application will put your information on record with the federal government, to keep track of your taxes, hire employees, and apply for bank accounts and lines of credit. Depending on which process you use to get your EIN, you should be able to obtain it in as little as an hour or as long as 4 to 6 weeks.
The best choice is to apply for your EIN online. Applying online is not only faster- since you can obtain your EIN in an hour or less-it’s more convenient as well. When applying online, you won’t have to worry about filling out paperwork or speaking over the phone, and you can rely on email to obtain your EIN instead of traditional mail.
5. How Do I Get a State Tax ID Number?
Your EIN is a tax ID number that applies at a federal level. Depending on the nature of your business, you may also need a Virginia state tax ID number, which applies at a state level. You’ll need a Virginia state tax ID for various purposes, including applying for state taxes and hiring employees in the state of Virginia.
Even though it’s a distinct number, the process for applying for and obtaining a state tax ID is similar to the process for an EIN. You’ll fill out an application, answering several questions about your business, you’ll wait for it to process, and you’ll eventually get your Virginia tax ID. You may also need an EIN first. Like with an EIN, the best option for this process is to apply online. The application process may take significantly longer- sometimes up to a few weeks, even if you’re applying online- but it’s always faster to apply online than it is through a traditional process like phone, mail, or fax.
6. How Do I Get a Virginia State Tax ID Number?
Your business may need a federal tax ID (EIN), a Virginia state tax ID, or both. You’ll need an EIN if you’re going to hire employees, if your business includes multiple people (such as if it’s a partnership or a multi-person LLC), if you’re applying for certain types of business licenses and permits, and if you’re going to open a business bank account or line of credit.
You’ll need a Virginia state tax ID number if your business is conducting certain operations in the state. For example, you’ll need one if you’re hiring an employee in Virginia, if you’re selling goods and services that owe state-level taxes in Virginia, or if you plan on owing excise taxes. Most businesses in Virginia will be required to have both an EIN and a Virginia state tax ID number.