How to Obtain a Tax ID Number in South Dakota

The IRS issues a nine-digit number known as a tax ID number, also called an Employer Identification Number (EIN), to identify a corporate organization for tax reasons. Getting an EIN in South Dakota is a basic and uncomplicated process.

You can submit an application for an EIN in South Dakota online on the IRS website, by mail, or by fax using Form SS-4. For convenience and speed, applying for an EIN online is the best option. After submitting the online application, you will have your EIN instantly for free.

You can print off Form SS-4 from the IRS website and manually fill it out if you’d rather submit your application by mail or fax. Once finished, you can send the form to the IRS through mail or fax. If you apply by mail or fax, it typically takes four to five weeks to get your EIN.

You must give basic information about your company, including the legal name, physical address, and type of business entity, in order to register for an EIN. The name and social security number of the company owner or other accountable person must also be provided. South Dakota has a sales tax.

You must gather and send sales tax to the state of South Dakota if your company sells goods or services there. South Dakota currently levies a 4.5% sales tax, with certain towns also charging an extra fee. By completing Form RV-1 and delivering it to the South Dakota Department of Revenue, you can register to collect sales tax. Certificates of Resale in South Dakota

Resale certificates issued in South Dakota never expire. If you are a retailer buying products to resell, you can save money on sales tax by giving your supplier a resale certificate. You can fill out Form S-211 and deliver it to the South Dakota Department of Revenue to request a resale certificate. South Dakota Income Tax

One of the rare states without an income tax is South Dakota. This indicates that South Dakotan companies are exempt from filing state income tax returns. Businesses must still submit a federal income tax return to the IRS, though.

Businesses in South Dakota are not given a unique business tax number. Businesses, however, utilize their EIN for tax purposes. You can get in touch with the IRS or the South Dakota Department of Revenue if you need to confirm the tax status of your company or receive a copy of your tax return.

Finally, getting an EIN in South Dakota is an easy and uncomplicated procedure. Once you have your EIN, you may easily file your federal income tax return, register to collect sales tax, and get a resale certificate. You can speak with a tax expert or the South Dakota Department of Revenue if you need help or have any questions about the procedure.