Registering a Tax ID (EIN) Number in Wisconsin? Apply online and receive your Tax ID Number in under an hour by using this Wisconsin 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 Wisconsin.
- Prepare Required Information
- Apply for a Wisconsin Tax ID Online
- Apply for a Wisconsin Tax ID by Phone, Mail or Fax
- How Do I Get a Wisconsin Tax ID Number?
- Do You Need a Business License in Wisconsin?
- How Do I Get a Wisconsin State Tax ID Number?
You should take the first step before you begin the application. When you fill out your tax ID application, you’ll need to answer several questions about your business and its founding members. If you want the process to go smoothly, and get completed as quickly as possible, it’s a good idea to collect this information in advance, so it’s ready for you to call upon when you need it.
Start by getting the legal names and legal addresses of all your founding business members (including yourself and any partners who you’re starting the business with). You’ll also need their social security numbers. You should also have your business name in place.
Once you’ve collected those bits of information on your company, you can start the application process. You’ll have several application methods available to you, including traditional methods like applying by phone, mail, or fax. However, the best method is applying online; it’s universally better in almost every way, since it’s easier, more convenient, and faster.
You can apply online using any device with an internet connection. If you have all the required pieces of information on your business and your partners, the application itself should only take you 5 minutes to complete. Then, your tax ID will be emailed to you approximately an hour after you submit your application for processing.
Once you get your tax ID number, you can begin business operations, which is why it’s so valuable to be able to complete the application quickly and get the tax ID in relatively short order.
That said, there are other methods you can use to apply for your tax ID as well. For starters, you can apply over the phone, answering application questions about your business in an interview-style format. You can also fill out the application by hand, then mailing or faxing it in.
These methods are less convenient and more time consuming than applying online, and they offer no real advantages over the online application method. The worst part is the time it takes to get your tax ID after finalizing the application; through a traditional method, it can take up to 4 to 6 weeks.
Your business may need a Wisconsin state tax ID in addition to your federal tax ID.
Your federal tax ID is sometimes called a general “tax ID,” and sometimes called an employer identification number (EIN). Your business will need this number if it involves more than one person- like if it’s a partnership, an LLC with multiple members, or a corporation. You’ll also need one if you plan on hiring any employees, for tax purposes. Federal tax IDs are also necessary if you plan on applying for business licenses and permits, if you’re going to apply for a business bank account, or if you’re going to build business credit.
Like a federal tax ID, your Wisconsin state tax ID is a unique ID number, but it applies at the state level. Sometimes called a sales tax ID, this is the number you’ll need if your business is selling taxable goods and services in the state of Wisconsin. You’ll also need this if you’re going to hire employees in Wisconsin, or if you’ll owe excise taxes on regulated goods like alcohol or tobacco.
Some businesses will need a specific license or permit to operate legally in Wisconsin, though there are numerous possibilities here and they all vary by city and/or county. There’s no single, general business license that you’ll need for your Wisconsin business, but you may need one based on your industry, based on your area of operation, or based on what you’re selling.
For example, businesses that sell alcohol will likely need some kind of permit, based on what type of alcohol you’re selling and how you’re selling it. If you’re running any business or organization that deals with human health, you’ll also need some kind of license to operate. You can consult your local Chamber of Commerce or City Clerk’s Office for more details about the licenses and permits needed for your area, but the process is similar for most types of paperwork in this category. You’ll usually need to apply for these documents with your tax ID number and details about how your business is going to operate. After that, you’ll pay a fee (either one-time or annual) to obtain or maintain your license.
Most businesses in the state of Wisconsin will require both a federal tax ID number and a Wisconsin state tax ID number. You’ll need a state tax ID number specifically if you’re going to hire employees in the state of Wisconsin, if you’re selling taxable goods and services in the state of Wisconsin, or if you’ll owe excise taxes.
The process for getting a Wisconsin state tax ID is similar to the one you used to get your federal tax ID. You’ll need your federal tax ID in place first, then you’ll need to apply online or through a traditional method, answering questions about your business. As you might suspect, applying online is far faster and more convenient, though when you apply for your state tax ID, it may take up to 4 to 6 weeks to get your number.