My question is: US-specific
QUESTION: Hello, My fiance and I want to start investing in real estate. We
plan to by an apartment building in Missouri where I'm a student, but he
lives in Louisianna and files personal taxes there. Should we file for a
business tax id in Missouri or Louisianna?
david ingram replies:
There is no penalty for having a Tax ID number and not needing it but there
is a problem if you need one and do not have one.
You can get your federal number at
http://www.sba.gov/starting_business/taxes/ein.html
and your Louisiana information is at
http://www.sos.louisiana.gov/comm/fss/fss-checklist.htm
You are not doing business in Louisiana though and should not need a
Louisiana Number.
You would not normally need one for Missouri either unless you have
employees:
Go to http://www.dor.mo.gov/tax/business/
To get a Missouri ID number
In short, unless you have employees, you do not likely need a number
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