-
Before she could even think about hiring employees, she had to get a federal tax ID number, or FEIN, for her company.
FORBES: When Julia Tried to Start a Business
-
While a getting a tax ID number shouldn't take more than a day, getting approval to duck taxes can take up to six months.
FORBES: How To Run A Child Care Center: Permits
-
At these types of periodic training sessions, budding entrepreneurs learn the basics of setting up a business, such as which forms need to be completed, what types of annual fees are necessary, how to set up a tax ID number, which offices to contact for specific questions, and so on.
FORBES: What to Consider When Choosing Your Startup's Location
-
But her state has its own income tax, so she had to register for a separate ID number to report and pay employee state tax withholding, and then had to fill out yet another registration for another ID number to file another regular report to pay state unemployment taxes.
FORBES: When Julia Tried to Start a Business