The EIN is the employer identification number typically assigned by the Internal Revenue Service to your LLC. Michigan has become the State with the best future for entrepreneurs with a vision to create a new profitable business.
Since the State reduced its property and business taxes and has incentive programs, many citizens have decided to relocate to the area. However, they require a federal tax ID to get started.
How to apply for an EIN in Michigan?
For new businesses in Michigan, it is essential to apply for the EIN; this will be the number used for companies, banks, and government entities to identify your business. If you wish to establish your business in this State, you must obtain an EIN.
You can make the application online through the IRS, mail, or fax. You should note that EIN applications by fax can take up to 4 days to be approved, and by mail, it would take up to four weeks.
If you need your document soon, none of these options are cost-effective, so it is best to apply online. After adding the requested information and having it validated by the platform, you will receive your EIN.
To start, you need to access the IRS online page; accessing the link “Apply online now”, you need to click on “Begin application” and select “Limited Liability Company”.
After reading the instructions, you have to click “continue” in the next tab; you have to put the number of members that are part of your LLC and choose the State where you will form it; of course, you will have to look for Michigan.
Now it is time to choose the option “Started a new business” and click “continue” to the next page; apply in the “individual” option and enter all the requested information, such as your social security number and your name.
After confirming the added information, it is time to select the option for LLC owners. When the new page appears, it will ask you for the address of your new company; it will be the IRS who will verify the address; on the new page, you will find the option “accept the database version”. To continue, you have to click it.
Again, you will be asked for the name of your LLC, the State, and the county where you organize it; it is also essential to put the exact date you started work. For the name of your LLC, be sure to add the abbreviation LLC and do not put any commas.
The registration is a bit long because you need to include all the necessary information; in the next tab, you will be asked different questions about the LLC type and what you sell, among others. It is time to register the company’s purpose: manufacturing, repairing, goods, organization, or renting.
If you are dedicated to any other sector, you can select “other” and write the field, products, or services available to customers. When you add all the information, the page will confirm the end of the procedure for you to save and print a copy of the application.
It is time to apply for the Federal Tax ID number
Applying for a federal tax identification number is the next step in acquiring your State EIN. You can apply for the number by calling 800 – 829 – 4933 or through the IRS website. You should only call Monday to Friday during the application hours of 7 am to 10 pm.
Through the website, you can find the SS – 4 form, fill it out and fax it to make the application; although, it will take approximately four days to arrive.
For years I have studied American finance regulations. All the information in this blog is sourced from official or contrasted sources from reliable sites.
Salesforce Certified SALES & SERVICE Cloud Consultant in February 2020, Salesforce Certified Administrator (ADM-201), and Master degree in “Business Analytics & Big Data Strategy” with more than 13 years of experience in IT consulting.