In Georgia, your business will probably need to get a tax ID, but the process can seem confusing to a new entrepreneur. In this guide, you’ll learn the basics of tax IDs for your Georgia business. Regardless of whether you’re setting up a partnership, an LLC, a corporation, or another type of business, these instructions can help you figure out whether you need a tax ID number and how to get one. Fortunately, the process is pretty straightforward, and if you use the online EIN application method, you can get a tax ID in an hour or less.
Steps to Get a Georgia Tax ID (EIN) Number :
- Required Information for Georgia Businesses
- 1-Hour Georgia Tax ID: The Online Application
- Applying for a Georgia Tax ID by Phone, Mail or Fax
- Getting a Tax ID in the State of Georgia
- Does Georgia Have a State Tax ID Number?
- How to Obtain a Georgia State Tax ID Number as Quickly as Possible
Your first step is understanding the application you’ll use to acquire a tax ID number. The core application is the same in every method, though there are several different methods you could use. No matter what, you’ll need to answer a few questions about your company, including the full legal names and legal addresses of you and your other founding partners. You’ll also need to provide their social security numbers (SSNs).
If you have this required information prepared, your application should be faster and easier to complete, helping you get your tax ID number sooner.
Most entrepreneurs are interested in getting their tax ID number or forming a Georgia business as quickly as possible, since they can’t operate legally without it. If this is one of your bottom-line goals, the best application method is applying online.
The online application is by far the most convenient application method, since you can use it using any device with an internet connection. When you pull up the online form, you should have no trouble navigating it, or understanding how to fill out the questions. In fact, if you have all the right information in hand already, it should only take you 5 minutes to complete the form.
After submitting the application, you should receive your tax ID number in an hour or less. This makes the online application much faster than any other method; most other methods take 4 to 6 weeks to provide you with a tax ID by mail.
Applying online is the best method for every entrepreneur, and is highly recommended, regardless of business type. However, there are some other traditional application methods available. If you’d prefer to answer questions over the phone, you can do that with a live representative. If you like the idea of filling out a paper application by hand, you can do that too, mailing or faxing in the form. You’ll be answering mostly the same questions, but remember, if you use one of these methods, you’ll likely end up waiting 4 to 6 weeks to get your tax ID by mail, rather than getting it in less than an hour via email.
The majority of Georgia businesses will need to get a tax ID number. The general term tax ID typically refers to your federal tax ID number, also known as an employer identification number, or EIN. This 9-digit number is given to your business upon registering with the federal government, and it’s unique to your company. You’ll need one for several different purposes, including applying for a business bank account, getting a business loan, or opening a line of credit. You’ll also need one in any business with multiple members, or if you’re going to hire employees.
How do you get this number? The high-level process is that you’ll need to complete a questionnaire, answering several questions about your business and its founding members. You can choose one of several different application methods to do this, but some will process much faster than others. For example, most traditional methods (like applying by traditional mail or fax) take up to 4 to 6 weeks. By contrast, applying online takes only an hour. The online application method is advised for all entrepreneurs.
Your federal tax ID number is likely a requirement, but it may not be the only ID number requirement. Georgia has its own state-level tax ID, which functions independently from your federal tax ID number. Remember, your federal tax ID number is necessary for hiring employees, opening a business bank account, and filling out most kinds of business paperwork.
By contrast, your Georgia state tax ID number functions at the state level, helping you register for Georgia’s state-level taxes. You’ll need one if you’re selling taxable goods and services in the state of Georgia, or if you plan to owe excise taxes (which apply to some regulated goods, like alcohol and tobacco). You’ll also need one if you’re going to hire employees in the state of Georgia.
Not all businesses will need a Georgia state tax ID number, but most of them will. In fact, most businesses will need both a federal tax ID number and a Georgia state tax ID number.
If you need a Georgia state tax ID number, you’ll want to use the method that allows you to obtain it as quickly as possible. First, you’ll need to get a federal tax ID number, if you haven’t already. Fortunately, if you use the online application method, you can obtain this number via email in less than an hour.
With your federal tax ID number in hand, you can begin Georgia’s state tax ID number application process. Again, you’ll have several application options, though most of them have you answering the same questions about your business and founding members. As you might imagine, the online application method is both faster and more convenient. You should be able to complete the application in just a few minutes. However, state tax ID numbers take longer to obtain, so it might take up to 4 to 6 weeks to get yours.