An Employer Identification Number (EIN) is used to identify a business for tax purposes with the Internal Revenue Service (IRS). An EIN is similar to a social security number for your business. Every business, except for certain sole proprietorships that do not have any employees, should have such EIN. Certain nonprofit organizations such as churches, clubs, trusts, and estates, and others, must also have an EIN. A business is required to obtain a Federal Employer ID Number if it hires employees or meets other IRS guidelines...

Sales tax is a tax on the end-purchase of a product or a service, and is imposed on all retail sales, leases and rentals of most goods, and on some services that are considered taxable. Sales tax normally does not apply on the purchase of a product intended for re-sale or for subsequent processing. Sales tax is usually represented by a certain percentage added onto the price of a good or service that is being purchased. Your sales tax responsibilities as a new business owner, whether you start...