Businesses must first register with the Mississippi Secretary of State to receive an Employer Identification Number (EIN) before applying for a Mississippi Tap. The Internal Revenue Service (IRS) issues a special nine-digit number called an EIN to identify firms for tax reasons. The good news is that applying for an EIN online through the IRS website is free of charge.
Once a company has an EIN, it can complete the online application on the Mississippi Department of Revenue website to register for a Mississippi Tap. The approval procedure usually takes between 24 and 48 hours, and the permit is good for two years. To prevent any penalties or fees, businesses must renew their Mississippi Tap prior to its expiration.
Businesses can apply for a multi-jurisdiction resale certificate in addition to the Mississippi Tap. This certificate enables companies to buy things tax-free for resale in a number of states, including Mississippi. Businesses should speak with each state’s department of revenue for more information on the application procedure and requirements for a multi-jurisdiction resale certificate as they may differ by state.
The Mississippi Tap is a significant certification for companies doing business in Mississippi, to sum up. It enables companies to collect sales tax from customers and send it to the state, which then uses it to pay for various public services. Businesses must first obtain an EIN before completing an online application in order to receive a Mississippi Tap, which is a rather easy procedure. A multi-jurisdiction resale certificate may also be required for enterprises that operate in various states and make tax-exempt purchases for resale.