Unemployment Non Domestic Company? On Fri, 27 Jan 2012 05:45:49 GMT starting Dymin Systems, Inc.. a

Business is an S Corporation based in Iowa with a Federal ID#, Iowa Sales Tax #, and IA employer #.....I want to hire an employee to telecommute from Florida...do I need a employer number for Florida to pay unemployment tax?

        Other Computer Rated Services NAICS #541519 with 1 employees in Urbandale, IA  , 50322, IA Polk County              

v - Employers need an Federal Tax Id Number and a State Tax Id Number.  In addition, your business needs a business tax registration and a fictitious business name registration.  In lieu of registering a ficitious business name, You could become an S  or C corporation or set up an LLC.

           

As mentioned above, partnership need a federal IRS business tax ID and because you have partners, you need to get one. If you did business with just your surname, you would not need to file a DBA but because your business name has words that reveal additional owners, you need to file a dba. Suffixes such as "& Sons" or & Associates require a filing of a trade fictitious business name. Remember that if you lease personal property, leasing it is taxable on the amount of the lease and you need to obtain a sales tax resale number to collect and pay taxes. All corporation at formation are C corporations unless they elect to be S corporations. An LLC can be a C corporation and taxed as one if it decides so. Keep in mind that even if you are just a service man, you still need to get a sales tax id number if your service includes the installation or building of parts. How much capital do I need to set up my LLC? If you will qualify as an independent contractor, you will be as any other business and you will need to register your business and get all required tax IDs.

Add Comments

User      Email      Privacy Guaranteed Email will NOT be published! Date Enter Comment or Question

	Click Here to Submit It.

Frequently Asked Questions:

Q: I started a business as a partnership but never really took off. Do I still need to file an IRS return?
A: If you filed for a a partnership but never started a business, you need to file a tax return anyway and just fill out the gross business income as zero. Otherwise the IRS will charge you with a penalty for non filing the return.

Q: What if the independent contractor is an LLC or corporation, do I still need to send them a 1099 form?
A: To be safe, yes, send everyone that does any work for you for more than $600 a 1099 form.

Q: What is the threshhold before I am required to file a business tax return?
Even if you made $0 dollars, you still need to file a business tax return.

Q: What is an EIN Used For?
A: You can use an EIN to pay employment taxes withheld and use it as a corporation, LLC or business tax ID number as a sole proprietor or partnership or you can combine any of the previous uses of an EIN.