Employer Identification Number (EIN) is a crucial identifier for businesses in Virginia and is used for various administrative purposes like tax filing and business banking.
Necessity and Application
Anyone who employs staff in Virginia needs a Virginia EIN number for tax filing reasons, and if your entity hires anyone on a W-2 basis, then it applies to you. This number is also necessary for filing tax returns for estates, retirement accounts, non-profit organizations, and a few other types of entities.
One important step most businesses take when starting in Virginia is to register for an Employer Identification Number (EIN) and Virginia state tax ID numbers. They are used to register with the federal and state government to pay taxes.
We help companies submit the required forms for an EIN Number in Virginia quickly and for a low cost, providing help correcting any errors. Our aim is to ensure you have what you need to start your company on time.
Steps to Obtain an EIN
You can get your Virginia state EIN number for free based on the structure of your business. The steps to follow when obtaining an ID are:
- Confirm you are eligible.
- Complete the online application in one session within 15 minutes.
- Submit your application.
Applying for an EIN number is completely free. However, make sure you know how many LLC Members you have before you apply, as changes later require additional IRS and state paperwork. Once validated, your EIN is assigned immediately and will never expire or duplicate.
EIN for LLCs in Virginia
If you’re a non-US resident (and don’t have an SSN or ITIN), you can still get an EIN for your Virginia LLC by mailing or faxing Form SS-4 to the IRS. Once the IRS issues an EIN for your Virginia LLC, you will receive an EIN Confirmation Letter (CP 575). The method used to apply for an EIN will determine how you receive your letter.
Virginia LLCs also need to comply with naming requirements under Virginia law, ensuring the name is succinct, memorable, and searchable. The name availability can be checked through the Virginia SCC website.
Importance of an EIN
Starting an LLC in Virginia requires selecting a registered agent, filing Articles of Organization with the State Corporation Commission, and paying the filing fee. The state processes online filings on the same day they’re received, while mailed filings take 3 to 5 days.
An EIN is used to identify US businesses and contains information about the state where the company is registered. It is necessary for single-member LLCs classified as disregarded entities to obtain an EIN by filing Form SS-4.
Overall, while the process to get a free EIN is fairly straightforward, it is important to understand your business requirements first. Our service can help guide you through the process, ensuring IRS compliance and easing your startup journey.