Every business, which has employees in Michigan or files taxes in Michigan should possess an EIN number. The EIN number is a unique nine-digit identification number issued by the IRS and helps the government to identify each business for the purpose of taxation. The EIN number is also known as the tax ID number.
All the types of businesses like partnership firms, Limited Liability companies, S corporations, Trusts, Church and other religious organizations and not for profit organizations need to obtain EIN in Michigan. Sole proprietorship businesses are exempted from EIN, but many firms prefer to get it for the ease of operation using EIN and protection of personal identity.
Businesses can obtain EIN in Michigan, easily through the website of the IRS. They just have to fill the EIN form and submit all the necessary details to the IRS to get an EIN number immediately. There are other ways to apply for EIN, such as through fax, mail or Telephone. Online application is the quickest and easiest way to apply for tax ID number. Applying for EIN is free of cost.
The application to obtain EIN in Michigan requires details like the registered name of the company, number of employees, name of the responsible party and their contact information, nature of business, registered address of the business, contact number and email address of the business and the mailing address. Once the applicant completes the EIN registration form and submits all the accurate details, they can receive the EIN number immediately. Receiving an EIN through fax takes four working days, through mail takes around three weeks and through telephone, it is available instantly.
The EIN number is required for a lot of purposes like, getting the licenses and permissions to start the business, hiring employees, opening checking accounts for the business and obtaining line of credit from the banks.
Businesses can also hire the services of third party consultants to obtain EIN in Michigan. These consultants will take care of the entire application process and obtain the EIN number for the company. The consultants will charge a fee to apply for EIN. The advantage of hiring a consultant is they offer quick service and have experience in dealing with the IRS.