Obtaining a ms tax id number

The corporate entity is created when your business registers with the Mississippi Secretary of State. This enables the owners to take advantage of the limited liability aspect of the corporate ownership and to raise equity by selling shares of the company. For profit entities have the option to chose either a C- corporation or Subchapter S-corporation status. If you become a C-corporation , the corporate profits are taxed, and then the owners will be taxed on their share of the profits and compensation i.

Find your Mississippi tax account info

A Subchapter S-corporation does not pay a corporate tax. Do I have to register my business name? How do I determine if the name I choose is okay to use? State statute requires that every business enterprise operating under an assumed name must register that name in the city or town in which it is located. What you do beyond this depends on a number of factors. If you incorporate, become a limited partnership or limited liability company, the name of the business would be registered with the Bureau of Corporations.

To determine whether a name you're considering is in use by another corporation, or is protected by a trademark or service mark, again you should contact Secretary of State at or Unfortunately, proprietorship names are not tracked by any one central agency.

How Can I Get a Tax ID Number

However, you can employ the following tactics to safeguard against using another business' name. Check the telephone listings of surrounding communities.

Your local library should have the various regional directories. You will also need to register for state income tax withholding and for an unemployment contributions. These can be obtained from the IRS and the U. Department of Immigration and Naturalization, respectively. Workers compensation insurance is necessary for all employees, whether part-time or full-time, and can be obtained with the help of your regular business insurer.

The Mississippi Workmen's Compensation Commission web site has additional information on Mississippi requirements. That web site has the employer registration form on line.

How to Get a Small Business License in Mississippi

Self-employed business owners are required to pay state and federal income taxes, Social Security, and Medicare based on the profits generated by the business. Profits in a proprietorship are determined before you draw compensation from the business i. You can estimate and report your federal taxes by using the ES form, and your state taxes by using the appropriate Mississippi form. You can also derive an estimate of your tax liability from your most recently completed Schedule C profit and loss statement for a proprietorship or by completing a monthly profit and loss statement.

Be aware that if you don't deposit the appropriate taxes for any individual quarter, or for the year, the IRS can and will impose stringent penalties and interest. If you need these forms, contact your local IRS office. What type of insurance should I obtain for my small business?

When you start your own business, there are various types of business insurance that should be considered essential and others that, while not essential, may be desirable and add to the security of a business. Most businesses will require some type of general liability insurance and many businesses obtain an "umbrella policy" that covers a variety of risks including personal property, liability, fire, theft, and medical payments.

EIN Synonyms

Start Your Mississippi Business. How to Start a Business in Mississippi 1. Whether you are forming a profit or nonprofit MS corporation. The Mississippi corporation name must be different than already registered Mississippi corporations. The incorporation is effective when filed, unless you list a future effective date.

Only nonprofits have to list duration. Only profit corporations need to list the number of shares the Mississippi Corporation is authorized to issue and the class of the shares. The name and office address of the registered agent in Mississippi.

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The name and address of each incorporator of the Mississippi Corporation. Other provisions.

The Mississippi incorporator must sign the articles of incorporation. Start Your Mississippi Business! The Mississippi company name must be different than already registered Mississippi companies. The articles are effective when filed, unless you state a future effective date. Business email address. Will you open a business bank account? The name provided should be the legal name as is or will be registered in your legal formation paper work. Responsible Party - The Individual who will act as or will be designated as the responsible party for the business or entity.

This individual will be responsible for direction, controlling and managing the entities funds and assets.

  • Apply For a Federal Tax ID in Mississippi.
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  • Mississippi SBA Information Packet?
  • Uses of Mississippi Tax ID (EIN) Numbers.
  • Individual Tax Identification Number (ITIN);

Business Address - The physical business address of the business or entity must be disclosed. This address must be a physical address and not a PO Box.