A Business ID Number is much like an NIN, but for businesses only. With NINs, the numbers will hopefully not recycle for at least 10 years. However, since a business is not a living entity, their number can be recycled easier if the business goes under. To find out the Business ID Number of a business, a proposed customer can just ask, or look at the first 11 digits of their telephone number. The Business ID number has no real structure with a couple of exceptions. One being that government owned businesses will start with 200.
The Business ID Number is designed to keep business finances separate from owner finances. This reduces the chance of embezzlement, and other potentially illegal activity. A proprietorship will have their personal NIN while a business will have a completely different number. Personal calls can go to the proprietor, while business calls can go to the business in question. With a separate Business ID Number, such calls can be kept separate. And since the telephone number is different, there is also a different voicemail greeting.
Anyone considering ventures to where they will receive money should acquire a business ID number. This will include even property owners with just a couple of rental properties. This will allow for a separate bank account, and keep everything organized. Otherwise, if there is an issue where there is a lawsuit, then the filer will only be able to sue the business, rather than the owner of that business. Having a business ID number will also provide for a bank account. The owner is allowed to pay himself, but the payment must be defined in the LLC bylaws. This is to protect the business. All businesses making a profit will be required to pay Capital Gains Tax.