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Consulting
Q: Tax D Consulting
A: Most consulting businesses need a federal tax id to use as independent contractors. Consulting also need a business license and a dba if using an assumed business name.
All Consulting businesses must be identified either with a federal tax ID or the ss# of the owner if sole proprietorship. All other business entities, such as LLC, Corp, Partnerships, need a federal tax ID number. In addition, if the Consulting business sells any merchandise whether wholesale or retail or if it leases equipment, it will need a sales tax ID number. Furthermore, employers will need both a federal EIN, and a State EIN. Finally, if the business uses a trade name, the name must be registered with an assumed business name certificate also called a DBA doing business as. Note that since you have to select a Consulting business structure, if you select to be an LLC or corporation you will not need to file an assumed business name. |
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