Does your Oklahoma business need a tax ID number? You might be running a limited liability company (LLC), corporation, sole proprietorship, or even a nonprofit. Are you sure you have everything you need to operate legally in Oklahoma? Most businesses will need a tax ID number for tax purposes, and for filling out business paperwork – including most states, such as the state of Alabama and Colorado. But how are you supposed to get one? This guide will teach you how to get a tax ID number for your Oklahoma business, and why it’s so important to have one in the first place.
Steps to Get an Oklahoma Tax ID (EIN) Number
- Required Information for a Tax ID Application
- Apply for an Oklahoma Tax ID Online
- Apply for an Oklahoma Tax ID by Phone, Mail or Fax
- How Do You Get a Sales Tax ID Number?
- What Is an Oklahoma Tax ID Number?
- What Methods Can Get You an Oklahoma State Tax ID Number?
Getting a tax ID number means you’ll need to register with the government, and that means you’ll need to fill out an application. Having all the right information on hand can make the application process faster, and guarantee you get your tax ID number as quickly as possible.
For starters, you’ll need to know the full legal names and legal addresses of the founding members of your company. This includes you, as well as any partners you have. It’s also important to have the social security numbers (SSNs) associated with these individuals.
When you’re ready to begin the application itself, you’ll have your choice of several different mediums. Years ago, before the internet was as accessible as it is today, the only methods were to fill out a paper application or apply over the phone. However, today’s entrepreneurs have the luxury of applying online, which is far faster and more convenient than any other method.
If you choose to use the online application method, you’ll be able to use any device with an internet connection. The application itself is easy to navigate and quick to review. If you have all the right information in hand already, you should be able to finish this part of the process in just 5 minutes.
When you’re done, you’ll receive your tax ID over email in less than an hour. Compared to other methods, this approach is miraculously quick; any traditional method could take up to 4 to 6 weeks for you to receive a tax ID number by mail.
Even though the online application is the recommended approach for every business owner, there are some other possible application methods you could use. Most traditional methods of applying for a tax ID are still around, including applying by phone, by mail, or by fax. These methods tend to be less convenient for busy entrepreneurs, since you’ll need to find a paper application or call a live representative during finite active hours. But the real problem with these methods is the timetable; you’ll need to wait 4 to 6 weeks to receive your tax ID by mail, as opposed to a single hour to get it over email.
You might wonder whether your business needs a sales tax number, which is assigned to Oklahoma businesses to keep track of owed sales tax at the state level.
Your sales tax ID number is just another name for your Oklahoma state tax ID number, which is a unique, identifying number assigned to your business at the state level. Note that this is different from your federal tax ID number, which as the name suggests, applies to your business at the federal level. This number is also called an employer identification number, or EIN.
You’ll need to have a sales tax ID number if you’re going to sell taxable goods and services in the state of Oklahoma, or if you’ll owe excise taxes, which apply to certain regulated products (like alcohol and tobacco). You’ll also need one if you’re going to hire employees in the state of Oklahoma. You can get one by applying for one online once you have a federal tax ID number.
An Oklahoma tax ID number is likely a reference to your Oklahoma state tax ID number, or state-level sales tax number. This is a unique number assigned to your business when you register with the state government of Oklahoma. It’s used for many purposes, including keeping track of employee-related taxes, sales taxes, and excise taxes. You may also be required to have one for certain state-level purposes, like applying for licenses and permits, or filling out certain kinds of paperwork.
Note that this number is distinct from your employer ID number, which is assigned to your business when you register with the federal government. This number, oftentimes simply called a "tax ID" is 9 digits long, and is a requirement for things like hiring employees, managing a business with multiple partners, filling out business paperwork, and applying for financial products like loans.
The majority of businesses in Oklahoma will need both a federal tax ID number and an Oklahoma state tax ID number. Even if you aren’t required to have them, they can be useful for business paperwork, to be used in lieu of a personal SSN.
Assuming you need an Oklahoma state tax ID number, how are you supposed to obtain one?
Like with your federal tax ID number, there are a few different application methods you can use, but applying online is by far the fastest and easiest method. First, you’ll need to have a federal tax ID number, so get one now if you haven’t already. You’ll be required to provide this number on your state tax ID number application.
Once you have it, you could choose a traditional method, like applying for your state tax ID number via phone, mail, or fax. However, it’s in your best interest to apply for an Oklahoma state tax ID number online. The online application is accessible using any digital device, and is highly intuitive. When you complete it, you’ll receive your state tax ID number in just 4 to 6 weeks.