IRS EIN / TAX ID APPLICATION (2024)Vermont Tax ID (EIN) Number Application Guide
The state of Vermont continues to evolve its process for organizations to obtain an employer identification number. If you need a Tax ID (EIN) Number in Vermont, the best tool you can use to know the latest and greatest methods is the handy Tax ID guide. With the guide available to you, the ability to complete the online EIN application process is as easy as can be. Using the Internet, you can fill out the forms, let the state do its validation work, and have an employer identification number within an hour.
Steps to Obtain your Tax ID (EIN) Number in Vermont:
- Prepare Required Information
- Apply for a Vermont Tax ID Online
- Apply for a Vermont Tax ID by Phone, Mail or Fax
- Do I Need a Vermont State Tax ID Number?
- How Do You Apply for a State Tax ID Number?
- How Do I Get a Vermont State Tax ID Number?
1. Prepare Required Information
If you’re interested in getting your tax ID as soon as possible, your first step should be gathering all the requisite information for completing the tax ID application. This is an important step because it allows you to fill out the application faster and more accurately.
First, talk to all your business partners, including yourself, and get their personal details, including their full legal names, their legal addresses, and their social security numbers (SSNs). During the application process, you’ll also need to provide your business’s official name.
2. Apply for a Vermont Tax ID Online
The application for your tax ID is going to be similar no matter which method you choose, but some methods are objectively better than others. No matter what, you’re going to answer several questions about your business related to its name and founding members.
Several traditional methods exist, including applying over the phone, by mail, or by fax, but the best method is to apply online. It’s possible to apply online using any device with an internet connection. The form itself is easy to understand and intuitive to navigate. If you’ve gathered all the right pieces of information, listed above, you should be able to complete the online application in 5 minutes or less.
Once complete, you’ll see the most important benefit of applying online: the time it takes to get your tax ID. You should receive it via email in less than an hour.
3. Apply for a Vermont Tax ID by Phone, Mail or Fax
It’s in your best interest to apply for your tax ID online, no matter what type of business you’re starting. However, there are some other, more traditional methods available. For example, it’s possible to find and fill out a paper application, though it takes more time than finding the online application. When complete, you can send it in via traditional mail or fax. You can also answer the survey questions over the phone, almost like in an interview.
These application methods tend to be much less convenient. More importantly, it takes much longer to get your tax ID when using them. In many cases, you’ll be forced to wait 4 to 6 weeks.
4. Do I Need a Vermont State Tax ID Number?
You may have heard that some companies need a Vermont state tax ID number. But does your company specifically need this?
A state tax ID number is different from a federal tax ID number, which is commonly referred to as a general "tax ID" because it applies to all businesses on a national level. Your federal EIN number, or federal employer identification number (EIN), is a 9-digit number assigned to your business to uniquely identify it, and as a way of registering it with the federal government. This number is a requirement for any business that plans on hiring employees, or any business with multiple partners or founding members, like a partnership or corporation. It’s also a necessary number for most financial applications, like applications for business loans or lines of credit. You’ll need one to apply for most business license and permit applications as well.
Your state tax ID is necessary if you’re going to hire any employees in Vermont. You’ll also need one if you’re selling taxable goods and services in the state, or if you’ll owe excise taxes on alcohol, tobacco, gasoline, or other regulated goods. If you’re not entirely sure whether you need a Vermont state tax ID or not, it’s best to err on the side of caution and get one.
5. How Do You Apply for a State Tax ID Number?
State tax ID numbers are regulated and supplied at the state level, so to get one, you’ll need to register your business with the state government. The rules for state tax ID numbers vary slightly from state to state, but most follow a fairly straightforward process that mirrors the process you used to get your federal tax ID.
No matter what, you’ll need to answer a few questions about your business on the state tax ID application. These questions are typically the same, no matter which application method you use, though some application methods will be faster, or will offer other distinct advantages. In Vermont, it’s best to apply for your state tax ID number online, since the application is more convenient and easier to understand. After you fill out the federal EIN application, you’ll get your tax ID in just 4 to 6 weeks.
6. How Do I Get a Vermont State Tax ID Number?
If you’re looking to start a business in Vermont, you’ll probably need both a federal tax ID number and a Vermont state tax ID number. To get your Vermont state tax ID number, you’ll first need a federal tax ID number, so use the online federal tax ID number application to get your tax ID in an hour or less.
Once you have that, you’ll be able to apply for your Vermont state tax ID. Again, the best approach here is to apply for your Vermont state tax ID number online. There are other application methods, like applying over the phone, or by mail or fax, but these are time consuming and less convenient, putting more barriers between you and your entrepreneurial goals. Applying online, by contrast, only takes you a few minutes to complete. After that, you’ll receive your tax ID in as little as 4 to 6 weeks.