An Employer Identification Number (EIN), also called a Federal Tax Identification Number, identifies a business entity for business tax purposes. You will likely need an EIN to open a business bank account, for identification purposes when applying for state and local licenses, for filing income tax forms and federal payroll/employment tax forms, and for identification purposes when filing electronic returns using the Electronic Federal Tax Filing System (EFTPS).
You can apply for your EIN through the Internal Revenue Service (IRS). The following criteria must be met for eligibility:
The form of business you operate determines what taxes you must pay and how you pay them. It is advisable to consult with a tax lawyer or accountant when deciding on your business structure for this reason.
The IRS identifies five general federal business taxes a business owner can expect to pay.
The Florida Department of Revenue (DOR) administers over 30 taxes and fees which are used to fund state and local government services for Floridians. You will have to determine which taxes apply to your business type and activity. A tax accountant or attorney can help you navigate this process.
For most taxes, you must register with DOR before you begin collecting, reporting, or paying state taxes. The Florida Business Tax Application (online or paper Form DR-1) asks you to answer a series of questions about your business that will help you identify your tax responsibilities and register to collect, report, and pay the following Florida taxes and fees:
The DOR offers excellent detailed information about paying these taxes. Visit the “General Tax” page to learn more.
Business Tax Receipts (BTR) - All businesses (including home-based businesses) with a physical location in Volusia County are required to obtain both a county and a city Business Tax Receipt (BTR). Renewals are annual for each tax year beginning October 1 and ending September 31. First check with the local municipality where your business is located to determine if a city BTR is required in that jurisdiction. A list of those tax offices can be found in the Resource Directory on VolusiaBusinessResources.com
Once you’ve registered for your city BTR, or determined that there is not a need, you can register for the County BTR. Start here to register for your BTR online.
Tangible Personal Property Tax (TPP) – This Ad Valorem tax is assessed against equipment, fixtures, or furniture used in a business or for a commercial purpose. This includes any leased equipment, furnishings and appliances in a rental property owned by the real property owner. The Florida Department of Revenue (DOR) provides comprehensive information about TPP oversight. Visit the “Property Tax” page to learn more.