The very first thing to do after forming an LLC in Wyoming is to obtain a federal tax ID number –or EIN (Employer Identification Number).
What should you do to obtain the tax ID for your business?
In order to apply for a tax ID number (EIN) you are required to fill out Form SS-4 and submit it to the IRS (Internal Revenue Services). While filling out this form, you will be required to provide some information which are all explained below:
- The full name of your LLC as it is submitted to authorities
- Contact Person: A person IRS will send the official documents to. This person can be living anywhere in the world. Generally, these people are one of the owners, members or managers of the companies or the company lawyer.
- Address of the LLC to which all tax related documents and notifications will be sent.
- State of doing business: the principal state of operation for an LLC. This state can be anywhere in the world or in the U.S.
- Information of the responsible member: As explained before, the responsible person of an LLC (owner or the member) can live anywhere in the world; therefore, this person may not have a social security number. In this case, it is not compulsory to provide a SSN. However, the person responsible has a SSN, it have to be submitted
- Taxation of the LLC: This step is very important since any misleading or false information may cause serious tax related legal problems. If an LLC has more than one member, it is categorized as a partnership when being taxed. If the company has a single member, then its taxation status will be defined as a sole proprietorship. When the taxation is being handled, both types of companies will fill out the same form; however, the actual taxation will be different in amount.
- Starting date of your business
- Last month of accounting
- Number of Employees: This part of the form can always be restated; since the conditions and the projections for the future of the business can change in time. In the form, there are 12 different LLC types according to their employee number. If you could not find a choice that fits your business, you can mark “other”.
- A comprehensive summary: to let the IRS know more about your business, you should provide a brief but accurate summary of your field of operation.
If you feel this is too much work to deal with, or don’t want to provide inaccurate information, you can simply contact us! We can get the EIN for your business!