â Organizational tax; taxes on changes of capital. An Employer Identification Number (EIN), also known as a federal tax identification number, identifies a business entity. Generally, all businesses need an EIN. An EIN is a nine-digit number that the Internal Revenue Service assigns to a business. The IRS uses the number to identify taxpayers that are required to file various business tax returns.
***** ** There are independent ** private colleges that are ** not for profit corporations or NGOs ***** These are usually treated like State Institutions but will have to pay taxes on investment property and no mission enterprises. Source(s): packinrat Â· 8 years ago.
Individuals can deduct personal property taxes paid during the year as an itemized deduction on Schedule A. Personal property taxes are taxes that are imposed by a state or local tax authority based on the value of an individualâs personal property. Another term for personal property tax is an ad valorem tax. An example of personal property tax is the tax imposed on the value of a car and assessed as part of an annual vehicle registration fee. What's Eligible to be Deducted as Personal Property Tax The tax code defines personal property tax pretty simply.