How to Get a Business Number in Nova Scotia: A Clear Step-by-Step Guide
If you’re starting a business in Nova Scotia, one of the first things you’ll need is a business number.
A business number is a unique nine-digit identifier that the Canada Revenue Agency (CRA) assigns to your business. It’s used to identify your business when you interact with federal, provincial, and territorial government programs and services. In this article, we’ll guide you through the steps to get a business number in Nova Scotia.
Key Takeaways
- Determine if your business is eligible for a business number
- Gather all the required information before starting the registration process
- Register for other accounts and programs, such as a GST/HST account, after registering for a business number
Step 1: Determine Eligibility
Before you can register for a Business Number (BN) in Nova Scotia, you need to determine if you are eligible. Not all businesses require a BN, so you only need one if you require any of the following business accounts:
- GST/HST
- Payroll
- Corporate income tax
- Import/Export
If you require any of these accounts, you will need to register for a BN. However, if you do not require any of these accounts, you may not need a BN.
To determine if you need a BN, you can use the Business Registration Online (BRO) Eligibility tool provided by CRA. This tool will help you determine if you need a BN and provide you with information on how to register.
Keep in mind that if you are a sole proprietorship, you may not need a BN if you are using your own name for your business. However, if you are using a business name, you will need to register for a BN.
It is important to determine your eligibility before registering for a BN to avoid any unnecessary fees or penalties.
Step 2: Gather Required Information
Before you can register for a Business Number in Nova Scotia, you need to gather some important information. This includes proof of identity and legal status, as well as information about your business.
Proof of Identity and Legal Status
To register for a Business Number, you need to provide proof of your identity and legal status. This can include government-issued photo identification, such as a driver’s license or passport, as well as proof of your legal status in Canada, such as a birth certificate or permanent resident card.
Business Information
You will also need to provide information about your business, including:
- Business name: Choose a unique name for your business that is not already in use by another business in Nova Scotia. You can search for existing business names using the Nova Scotia Registry of Joint Stock Companies website.
- Business structure: Decide on the legal structure of your NS business, such as sole proprietorship, partnership, or corporation. Each structure has different legal and tax implications, so it’s important to choose the one that is right for your business.
- Business activities: Describe the nature of your business activities, including the products or services you offer.
- Business address: Provide the address where your business will be located. This can be a physical address or a mailing address.
- Business contact information: Provide a phone number and email address where you can be reached.
Having all of this information ready before you start the registration process will make it easier and faster to complete.
Step 3: Register for a Nova Scotia Business Number
After registering your business with the Nova Scotia Registry of Joint Stock Companies, you will need to register for a Business Number (BN) with the Canada Revenue Agency (CRA). A BN is a unique 9-digit identifier that the CRA assigns to your business for tax purposes.
Online Registration
The easiest and fastest way to register for a BN is online through the CRA website. To do this, you will need to have a CRA My Business Account. If you don’t have one, you can create it on the CRA website. Once you have an account, follow these steps:
- Log in to your CRA My Business Account.
- Under “Manage Accounts,” select “Add a Business Number.”
- Enter your business information, including your legal name, business type, and contact information.
- Review and submit your application.
After submitting your application, you will receive your BN immediately. You can use it to register for other CRA accounts, such as payroll and GST/HST accounts.
Mail-In Registration
If you prefer to register for a BN by mail, you can do so by completing Form RC1, Request for a Business Number, and mailing it to the CRA. You can download the form from the CRA website or order a copy by calling the CRA Business Enquiries line at 1-800-959-5525.
When completing the form, make sure to provide accurate and complete information about your business. Once the CRA receives your form, it will process your application and mail your BN to you within 4-6 weeks.
You can find a list of current CRA mailing addresses here.
Step 4: Register for Other Business Accounts and Programs
Once you have your Business Number (BN), you may need to register for other accounts and programs depending on the nature of your business. Here are some of the most common accounts and programs you may need to register for:
HST Account
If your business is going to collect and remit the Harmonized Sales Tax (HST) in Nova Scotia, you need to register for an HST account. You can do this online through the Canada Revenue Agency (CRA) website. You will need to provide your BN, business name, and other relevant information. Once you have an HST account, you will need to charge HST on your taxable supplies and remit the collected HST to the CRA.
Payroll Taxes
If you have employees, you will need to register for a Payroll Account with the CRA. This account will allow you to remit payroll deductions such as Canada Pension Plan (CPP), Employment Insurance (EI), and income tax withholdings on behalf of your employees. You will need to provide your BN, business name, and other relevant information to register for a Payroll Account.
Import/Export Account
If your business is involved in importing or exporting goods, you may need to register for an Import/Export Account with the Canada Border Services Agency (CBSA). This account will allow you to import and export goods and pay any applicable duties and taxes. You will need to provide your BN, business name, and other relevant information to register for an Import/Export Account.
It’s important to note that there may be other accounts and programs you need to register for depending on the nature of your business. For example, if you are a corporation, you may need to register for a Corporate Income Tax Account with the CRA. If you are unsure about which accounts and programs you need to register for, it’s a good idea to consult with a tax professional or accountant.
Conclusion
Congratulations! You have successfully obtained a business number in Nova Scotia. This means you are now officially recognized by the government and can legally operate your business in the province.
Remember to keep your business information up-to-date with the Registry of Joint Stock Companies, including changes to your business name, address, and ownership structure. You can also use your business number to interact with the Canada Revenue Agency and other government programs.
Frequently Asked Questions
What is a CRA business number?
A CRA business number is a unique nine-digit number that identifies your business to the federal, provincial, and municipal governments in Canada. It is used to interact with the Canada Revenue Agency (CRA) and other government programs. You need a business number if you require any one of the following business accounts: GST/HST, Payroll, Corporate income tax, Import/Export.
How do I register for a business number with CRA?
You can register for a business number with CRA online, by mail, or by phone at 1-800-959-5525. To register online, you will need to have a CRA My Business Account. To register by mail or phone, you will need to complete and submit Form RC1, Request for a Business Number.
Can I register my business online with CRA?
Yes, you can register your business online with CRA if you have a CRA My Business Account. This is the quickest and easiest way to register for a business number. You can also use your CRA My Business Account to manage your business accounts, file your taxes, and more.
What is the Registry of Joint Stocks in Nova Scotia?
The Registry of Joint Stocks is the government agency responsible for registering businesses and corporations in Nova Scotia. It is part of the Nova Scotia Department of Business. The Registry of Joint Stocks maintains a database of all businesses and corporations registered in Nova Scotia.
How do I register my business in Nova Scotia?
To register your business in Nova Scotia, you will need to complete and submit the appropriate registration forms to the Registry of Joint Stocks. The forms you need to complete will depend on the type of business you are registering. You can register your business online using the Nova Scotia Business Registry.
What are the fees to register a small business in Nova Scotia?
The fees to register a small business in Nova Scotia depend on the type of business you are registering and the services you require. The fees range from $22 to $351. You can find more information about the fees on the Nova Scotia Business Registry website.
