IRS EIN / TAX ID APPLICATION (2023)Indiana Tax ID (EIN) Number Application Guide
Registering a Tax ID (EIN) Number in Indiana? Apply online and receive your Tax ID Number in under an hour by using this Indiana Tax ID Application Guide. Most find it surprising to find that you are required to prepare identifying information about each of your partners, even if you own a Corporation, Trust, Non-Profit, Partnership, Estate or multi-member LLC. This simple Tax ID guide will help you through when applying for your official Tax ID (EIN) Number in Indiana.
Steps to Obtain your Tax ID (EIN) Number in Indiana:
- Prepare Required Information
- Apply for a Indiana Tax ID Online
- Apply for a Indiana Tax ID by Phone, Mail or Fax
- How Do You Apply for a Tax ID?
- What Is a TID Number in Indiana?
- How Do I Get an Indiana State Tax ID Number?
1. Prepare Required Information
The first thing you have to do is gather information you can use to fill out the application. The application for a tax ID is going to prompt you for several key pieces of information related to you, your business, and your business partners. This process will register your business with the government, so it needs to be checked for accuracy as well. First, make sure you gather information on your business partners and cofounders. You’ll need your full legal names, your addresses, and your social security numbers.
2. Apply for a Indiana Tax ID Online
There are a few different paths you can take to obtain your tax ID. The old way of doing things necessitated a traditional application process; you could talk to someone over the phone, or fill out a tangible paper application and send it in via mail or fax. However, it’s ridiculously faster (not to mention easier) to apply for your tax ID online.
In the online application for a tax ID, you’ll answer a simple questionnaire, which is easy to navigate and fill out. In fact, if you have the right information in front of you already, it should only take you a few minutes to complete. After that, you’ll need to wait for the application to process, but if you’re using the online method, you should only be waiting an hour. After that, you’ll receive your tax ID via email, which is the most convenient channel for most business owners.
3. Apply for a Indiana Tax ID by Phone, Mail or Fax
If you aren’t interested in applying for a tax ID number online, you should seriously reconsider, but there are alternative methods available. You can apply over the phone by talking to a representative, answering the same questions that are in the online application, but with someone to guide you through them. You can also fill out an application on paper, though it takes far longer than filling out the application digitally, and send it in via mail or fax. The real problem with these traditional application methods is that they take a long time to process- up to 4 to 6 weeks, compared to the one-hour processing time of the online variant.
4. How Do You Apply for a Tax ID?
Most new businesses in Indiana will need a tax ID to legally operate. That means getting a tax ID should be one of, if not your top priorities. Fortunately, the application process is relatively straightforward. Applying for your tax ID registers your business with the federal government, and eventually provides you with a unique, nine-digit number you can use when completing your taxes, filling out applications for bank accounts, or applying for loans, business licenses, permits, and other business requirements.
Filling out the tax ID application is usually simple, no matter which application method you use; however, applying online is much faster for most business owners. You’ll answer several questions about your business and your partners, and then wait for the application to process. If you apply online, the processing time should be very reasonable; in fact, most applicants get their tax ID after just an hour of processing time. However, if you rely on a traditional process for applying for your tax ID, you could be stuck waiting several weeks or longer to get your tax ID via mail.
5. What Is a TID Number in Indiana?
A TID number in Indiana refers to a state-level Indiana tax ID. This is a unique, identifying number for your business, but is distinct from your federal tax ID (also called an employer identification number, or EIN). If your business conducts operations in the state of Indiana, you’ll probably end up needing a state-level Indiana tax ID.
Businesses will need an EIN, or federal tax ID, if they plan on hiring employees, or if they’re owned by multiple founders/partners. For example, every partnership or LLC with multiple members will need an EIN. You may also need one if you plan on establishing business credit, applying for business bank accounts and loans, or if you need certain business licenses and permits.
By contrast, your Indiana state tax ID is required only for certain state-level operations. For example, if you plan on hiring employees in the state of Indiana, you’ll need a state tax ID. If you sell taxable goods and services in the state, you’ll need a TID number in Indiana as well. You’ll also need one if you’re going to owe excise taxes, which apply to goods like alcohol, tobacco, and gasoline.
6. How Do I Get an Indiana State Tax ID Number?
If you need to get an Indiana state tax ID number, you can follow a similar process to the one you used for your federal tax ID number. Like with a federal tax ID, you’ll have two main options; you can apply for it with a traditional process, like phone, mail, or fax, or apply online. And like with your federal tax ID, it’s much faster and easier to apply online.
Filling out the application for your Indiana state tax ID number is a simple matter- you’ll rely on many of the same points of information as with your federal tax ID application, though you might also need your EIN in place. Unfortunately, no matter which method you choose, you might have to wait a few weeks to get your ID number- but as you’ve likely guessed, applying online is still faster.