Iowa Tax ID (EIN) Number Application Guide
Registering a Tax ID (EIN) Number in Iowa? Apply online and receive your Tax ID Number in under an hour by using this Iowa 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 Iowa.
Steps to Obtain your Tax ID (EIN) Number in Iowa:
- Prepare Required Information
- Apply for an Iowa Tax ID Online
- Apply for an Iowa Tax ID by Phone, Mail or Fax
- How Do I Get a Tax ID Number in Iowa?
- Do I Need a Tax ID Number in Iowa?
- How Do I Get an Iowa State Tax ID Number?
1. Prepare Required Information
Your first step should be to prepare all the information that will be required of you during the application process. Getting a tax ID requires you to register your business with the government, so you’ll need to have the legal name of your business in place. You should also gather the legal names, addresses, and social security numbers (SSNs) of all your business’s founding members (i.e., you and all your partners).
Getting this information in advance will make the process go much more quickly, since you won’t have to stop and hunt it down in the middle of applying.
2. Apply for an Iowa Tax ID Online
If you’re ready to apply for a tax ID, you’ll have a few options for completing the process. In decades past, it was common to apply for a tax ID with a paper application, mailing or faxing it in. It was also common to apply over the phone. While these methods are still available to interested entrepreneurs, it’s much faster and more efficient to apply for your tax ID online.
You can access the online form using any internet-connected device, which makes it far more efficient and accessible than any other method. The form is also intentionally easy to navigate, so you shouldn’t have any problems understanding what to do. If you’ve gathered the right bits of information beforehand, you should be able to finish the application in just 5 minutes. Once the application is completed, you can get your tax ID in record time. In most cases, you’ll receive your tax ID in under an hour.
3. Apply for an Iowa Tax ID by Phone, Mail or Fax
There are application methods other than applying online, though they typically take much longer to complete. No matter which method you choose, you’ll be answering the same questions about your business, so you’ll need to be prepared with the same information. You could answer these questions over the phone with a live representative. You could also answer them on a sheet of paper, then mailing or faxing that paper form in. In any of these traditional methods, you’ll be stuck waiting 4 to 6 weeks to receive your tax ID by mail.
4. How Do I Get a Tax ID Number in Iowa?
If your business needs a tax ID number in Iowa, there are a few different methods you can use to obtain it. In any case, you’ll need to prepare the required information for the form (including personal information on your business partners and the name of your business), and then submit an application. When you’re done, you’ll wait to receive your tax ID.
The best way to apply is online. The online application form is digital and accessible using any internet-connected device. If you have the right information on hand, it should only take you 5 minutes, and after that, you’ll be able to receive your tax ID by email in less than an hour.
You can also apply through one of several traditional methods, including applying over the phone, applying by mail, or applying via fax. These methods tend to take much longer to complete, and even after you’ve submitted the application, you could be forced to wait 4 to 6 weeks to receive your tax ID by mail. There’s no real comparison in terms of convenience or speed; applying online is better.
5. Do I Need a Tax ID Number in Iowa?
Now for the important question: does your Iowa business need to have a tax ID number? Let’s start by defining what a tax ID number actually is. The general term “tax ID” usually refers to a federal tax ID, also called an employer identification number, or EIN. This is a unique, nine-digit number assigned to your business when you register with the federal government.
You’ll need a federal tax ID number in many different scenarios. For example, you’ll need one if your business hires employees, or if your business will have multiple partners (like in a partnership, LLC, or corporation). Tax IDs are also required if your business is going to open a bank account, get a loan, or apply for any kind of business credit. They’re required for most business license and permit applications as well. There are even benefits to getting an EIN that extend beyond the basic requirements.
In short, your business will probably need a federal tax ID number before it can operate in Iowa. There are very rare cases where it’s not required, but it’s good for all businesses to have one.
6. How Do I Get an Iowa State Tax ID Number?
In addition to a federal tax ID number, you may also need an Iowa state tax ID number. Though similar in name and function, this is an entirely different number, and you’ll need to get one via a different process. You’ll need an Iowa state tax ID number if you’re going to hire employees in the state of Iowa, if you’re going to sell taxable products and services in Iowa, or if you’ll owe excise taxes (which apply only to certain goods, like alcohol).
To get an Iowa state tax ID number, the first step is obtaining a federal tax ID number, which you can get by applying online. Once you have that, you can apply for your Iowa state tax ID number through a traditional method, like applying via mail or fax, or by applying online. Like with the federal tax ID application, it’s much faster and easier to apply for your Iowa state tax ID online, especially if you have all the right pieces of information gathered in advance. That said, it may still take up to 4 to 6 weeks to receive your state tax ID.