Irs Tax ID Number
It is a federally issued number also known as an irs number it is a unique 9 digit number (ex. 12-3456789) that the Internal Revenue Service and other federal agencies use to identify your business for many tax purposes but mainly it identifies employers, partnerships, trusts, and corporations.
Corporations or LLCs, employers are required to obtain a Federal Tax Id (FEIN) and a Business License.
You can use a federal tax id number as your business id number. For example, if you are a sole owner, you will need to use your social security as a business tax id number.
In addition to a BUSINESS license, and other filings such as a tax ID and a DBA, Professionals and trade specialist need a professional license.
For example, attorneys get one by passing the state bar exam, CPAs, Architects et have similar requirements.
Vocational Trade Specialist such as plumbers, electricians, construction contractors, nurses and other specialized trades also need a professional license and they get it by passing a certification exam. |