The type of business entity you choose will depend on three primary factors: liability, taxation, and record-keeping. Before you establish a business, you may consider consulting with a Corporate/Business Law Attorney or Certified Public Accountant (CPA), who specializes in your industry, for advice about what type of business entity will meet your business needs and what your legal obligations will be. Show
You must register your business entity with the proper government agency, once the most appropriate business entity is determined :
Accordingly, you, or your licensed representative, must also register for your business taxes with the U.S. Internal Revenue Service (IRS) and Illinois Department of Revenue (IDOR). The City of Chicago business tax registration is part of the business license application process. For additional information about business and tax registration, please review the chart below: Accordingly, you, or your licensed representative, must also register for your business taxes with the U.S. Internal Revenue Service (IRS) and Illinois Department of Revenue (IDOR). The City of Chicago business tax registration is part of the business license application process. For additional information about business and tax registration, please review the chart below:
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15PDF provides information on employer tax responsibilities related to taxable wages, employment tax withholding and which tax returns must be filed. More complex issues are discussed in
Publication 15-APDF and tax treatment of many employee benefits can be found in Publication 15. We recommend employers download these publications from IRS.gov. Copies can be requested
online (search “Forms and Publications) or by calling 1-800-TAX-FORM. We cannot process your application online if the responsible party is an entity with an EIN previously obtained through the Internet. Please use one of our other methods to apply. See
How to Apply for an EIN. We apologize for any inconvenience this may cause you. Purpose of an Employer Identification NumberEmployer Identification Numbers are issued for the purpose of tax administration and are not intended for participation in any other activities (e.g., tax lien auction or sales, lotteries, etc.) Exempt Organization InformationIf you believe your organization qualifies for tax exempt status (whether or not you have a requirement to apply for a formal ruling), be sure your organization is formed legally before you apply for an EIN. Nearly all organizations exempt under IRC 501(a) are subject to automatic revocation of their tax-exempt status if they fail to file a required annual information return or notice for three consecutive years. When you apply for an EIN, we presume you’re legally formed and the clock starts running on this three-year period. Example: Your organization applies for an EIN in November 2014 and chooses a December accounting period. Your first tax period would end on December 31, 2014, and your first return or notice (if your organization does not meet one of the few exceptions to the annual reporting requirement) would be due May 15, 2015. You would be subject to automatic revocation of your exemption if you fail to file for the three periods that end December 31, 2016 (return/notice due May 15, 2017) or for any consecutive three-year period thereafter. Related TopicsWhere do I find my Illinois state identification number?Log in to your MyTax Illinois online account. Locate your Taxpayer ID Number on any previous Illinois Withholding Income Tax Return (Form IL-941).
Does Illinois have a state ID number?5. What Is an Illinois IDOR Number? Your Illinois state tax ID number may also be called an Illinois IDOR number, or an Illinois sales tax number. The latter name comes from the fact that this number is used primarily to register Illinois businesses for sales taxes.
How do I get an IBT number in Illinois?To obtain an IBT, you register with IDOR. To register your business, you may choose one of the following options: Register electronically through MyTax Illinois - (fastest processing time). Complete and mail Form REG-1 Illinois Business Registration Application -
How do I register my business with the Illinois secretary of state?Business Registration. electronically register through MyTax Illinois (approximately one to two days to process);. complete and mail Form REG-1, Illinois Business Registration Application, to us at the address on the form (Form REG-1 is available on our web site as a fill-in and savable form. ... . visit one of our offices.. |