Everything You Need to Know About EIN Number in Montana

The Internal Revenue Service (IRS) may require you to obtain an Employer Identification Number (EIN) if you’re beginning a business in Montana. An EIN is a nine-digit number that serves as your company’s tax identification number. But how much does it cost in Montana to obtain an EIN? Let’s look more closely.

The good news is that an EIN number can be obtained in Montana for nothing at all. A free EIN application is available online, via mail, or by fax. Watch out for websites run by third parties who promise to get you an EIN in exchange for money. These websites could impose arbitrary fees and are not connected to the IRS.

Your Federal Employer Identification Number (FEIN), which you can readily locate if you’ve already applied for an EIN for your company, can be found on any tax returns you’ve filed with the IRS. You can also get your FEIN over the phone by calling the IRS Business & Specialty Tax Line at 800-829-4933.

You must submit an annual report to the Montana Secretary of State if you operate a Limited Liability Company (LLC) in the state. The report, which includes information about your company such your name, address, and registered agent, is due every year by April 15th. In Montana, filing an annual report costs $20.

S-corporations are not subject to tax in Montana. Because S-corporations are pass-through companies, the profits and losses incurred by the company are distributed to the individual owners and recorded on their individual tax returns. S-corporations in Montana must nonetheless continue to submit an annual return to the department of revenue.

Yes, there is a corporate income tax in Montana. In Montana, corporations pay a flat tax of 6.75% on all taxable revenue. But Montana also provides a variety of tax breaks and credits that can lower a corporation’s tax burden. To be sure you’re utilizing all potential tax benefits, it’s crucial to speak with a tax expert.

Finally, getting an EIN number in Montana is totally free, but be aware of unofficial sources that can tack on extra expenses. In Montana, if you operate an LLC, you must submit an annual report and pay a $20 charge. S-corporations are not subject to taxes in Montana, but they must still submit a yearly return. The corporate income tax rate in Montana is 6.75%, although there are tax credits and deductions that can be used to lower a corporation’s tax obligation.