A current business license is necessary if you run a business in the state of Washington. Depending on the kind of business you operate and where it is located, Washington State’s business license renewal fees vary. The cost to renew a normal business license can run between $45 and $125, whereas the cost to renew a specialized license can be between $60 and $200.
You can either renew your business license by mail or online through the Washington State Business Licensing Service. Before the license’s stated expiration date, the renewal procedure must be finished. Fines and penalties may apply if your license is not renewed in a timely manner.
You may need to get a UBI number and an EIN number in addition to renewing your business license. The Washington State Department of Revenue issues firms with a unique nine-digit number known as a UBI number, or Unified Business Identifier number. When submitting state tax forms and paying state taxes, your business is identified by this number.
The Internal Revenue Service (IRS) issues firms with a special nine-digit number called an EIN, or Employer Identification Number. When submitting federal tax returns and paying federal taxes, your business will be identified by this number. You must have an EIN number if your company employs people.
You can submit an application by mail or online through the IRS website to get an EIN number in Washington state. The application for an EIN number is free. In conclusion, the price to renew a business license in the state of Washington varies based on the kind of business you have and where it is located. To prevent fees and penalties, it’s critical to renew your license prior to the expiration date. A UBI number and an EIN number are also available from the Washington State Department of Revenue and the IRS, respectively, and may be required for your company.