Tax I.D.

[Agapevending]

This might sound like a weird question, but here goes. Are you required to have a Tax I.D for your bulk vending business. If so, where do I get it? If not, what are the benefits of having it?

[Guest ontheballvending]

You only need a TAX ID # or Federal Employment Identification # if you have employees.

Also, is helpful in purchasing products without sales tax. ??

Federal ID #  or TAX ID # or Federal Employment Identification # is all the same thing.  You can apply online

at www.irs.gov and have one in less than 15 min.

[Agapevending]

Thanks for the info.

[mizugori]

You only need a TAX ID # or Federal Employment Identification # if you have employees.

I do not believe that is correct...

[adkarr24]

I do not have employees, but I do have a partnership and so I use a Tax ID#. Even is you are a sole proprietor you can get a tax ID to use in place of your social security #.

[Guest ontheballvending]

You are absolutely correct.  If you are paying sales Tax on your products, you can deduct it from your income tax.

[alyssamma]

Yeah, there are a list of reasons for needing a tax ID. But the key is that it is easy to get online. And the IRS website has a short questionaire that will tell you if you need one or not.

Kevin