FAQs • Mount Airy, NC • CivicEngage

If I go out of business, do I need to report this to someone?: You will need to notify the Revenue Department at least 48 hours prior to the date of the pending sale, transfer, or termination of business.

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Business Licensing

1. Do I need to register my business name?: Yes, business names need to be recorded with the Register of Deeds in the county or counties in which businesses plan to operate. If you are using your name in association with the business, it still needs to be recorded. This is considered a DBA (Doing Business As) name and registering it will protect your business name and give you legal recourse if someone else tries to use your DBA. Corporations must register their business names with the North Carolina Secretary of State’s Corporations Division.

2. Do I need a Federal Tax ID Number?: If you are a sole proprietor, you probably don’t need one. If you are hiring employees, or forming a corporation or LLC, you can apply for Federal ID number by calling the IRS at 800-829-1040.

3. Is a Federal Tax ID number the same as a Sales Tax Number?: No, the NC Department of Revenue issues a state sales tax number, which allows you to buy wholesale and sell retail. There may be a fee to set up this account; you can reach the NC Dept. of Revenue at 336-896-7024.

4. If I go out of business, do I need to report this to someone?: You will need to notify the Revenue Department at least 48 hours prior to the date of the pending sale, transfer, or termination of business.