Applying For a Tax ID In Minnesota

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What you need to do to apply for a Minnesota tax id number is fairly simple.

When applying for a Minnesota tax id number you need to decide what type of business you are going to do. For example an LLC (limited Liability Corporation) is a type of business in which you are protected by the state if anything happens. Meaning you will not have to pay for any mishaps in regards to your business like if someone gets hurt using one of your products. The state will cover the liability expenses.

Obtaining the tax id license once you have figured out which type of business to open.

Obtaining the tax id number for a LLC require that you request an E.I.N. Number

(Employer identification number) Federal employer identification numbers are used to identify your business at a federal level. With an E.I.N. You can be sure that your business is legitimate. You will need to also file with the secretary of state for a trade business name which you can do so on your local secretary of state website. If you want your Minnesota LLC taxed as a C-Corp, you’ll first apply for an EIN and then file Form 8832. If you want your LLC taxed as an S-Corp, you will first apply for an EIN and then file Form 2553.

Last steps to filing for a tax id number in Minnesota

One last thing you will need to file for a tax id number is your SSN. You can also file without a SSN number but there are other steps to take for that. Once you have completed all of these steps you will receive an E.I.N. Confirmation Letter which state your approval for the E.I.N. Then you can do business. That’s it.

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