Understanding Oregon’s Business Identification Number (BIN)
Your business ID number (BIN) in Oregon is essentially your state tax ID number. It’s another unique, identifying number, assigned at the state level when you register your business with the state government. As an employer, you’ll need to register with the Oregon Employment Department. You can register quickly and securely on the Oregon Business Registry site. Once you are registered, you will receive your Business Identification Number (BIN). If you are a subject employer, you’ll also need to post the notice concerning Unemployment Insurance where your employees can read it.
The BIN is NOT the same as the Business Registry Number obtained when you originally registered with the Oregon Secretary of State’s Corporation Division. You can register quickly and securely on the Oregon Business Registry site. Once you are registered, you will receive your Business Identification Number (BIN).
Applying for a BIN
If you find you need an Oregon state tax ID number, or Oregon BIN, get a federal tax ID first, which is important, since you’ll need both a federal tax ID and an Oregon BIN if you’re going to hire employees in Oregon. Once you have that, you can apply for your Oregon BIN through a traditional method, like phone, mail, or fax, or online. It’s better to apply online; the form is more convenient to access and intuitive.
Simply visit your state’s official website and fill out an online form with your business name, federal tax ID number, NAICS code and other basic information. The BIN is used for reporting, paying, or making inquiries about your unemployment insurance, withholding, transit taxes, and the Workers’ Benefit Fund Assessment.
BIN vs EIN Clarification
When you hear that you might need a business ID number (BIN), you might accidentally mistake it for an EIN. Your business ID number (BIN) in Oregon is another name for an Oregon state tax ID. Most businesses need to apply to the Internal Revenue Service for a federal Employer Identification Number (EIN). You can apply online through the IRS. Complete the Combined Employers Registration form to obtain a Business Identification Number (BIN). You do not need a BIN unless you are an employer, have imminent plans to hire employees, or have active workers’ compensation insurance in Oregon.