To start a business in North Carolina, one needs an EIN or a Tax ID number. Obtaining a Tax ID, Is mandatory for all types of institutions like sole proprietary, partnership firms, LLC, S corporation, Trust, churches and not for-profit organizations.
To obtain a Tax ID or the Federal EIN Number, One has to fill the North Carolina Tax ID application. The application is available online on the IRS website or it can also be found on the websites of the third party consultants, who assist their clients in getting a Tax ID for a fee.
There are a number of details required to fill the North Carolina Tax ID application, like the proper registered name of the entity as mentioned in the incorporation certificate, the name of the responsible party who will be responsible for controlling and managing the funds and assets of the company, a proper registered business address of the company, you should provide a physical address and not a PO Box number, if you want a separate mailing address to receive the official mail from the department, you have to specify it at the time of filling the application and a proper email id and phone number to receive notification from the department in case of any corrections required. Other than these details, the form requires many other details like nature of the business, reason for applying for the EIN number, primary activity of the business and other general information like the date of starting business, details of accounting year, whether the company pays excise Tax, whether it is involved in gambling activities and so on.
Applying for EIN is a cumbersome process and requires a lot of documentation and paper work. It is a better idea for new entrepreneurs to engage the services of a third party consultant to fill and submit the North Carolina Tax ID application. They have a better experience of filling these forms and know about all the details required for fast processing of your EIN application form. These consultants make the process easy and effortless as they do all the waiting and trouble shooting for you.