If you are going to start a small business in Georgia, it is important to understand what GA Tax ID means and how it is used for tax and business purposes. For example, if you are going to open a checking account in a Georgia bank, you will be required to present the 9-digit Tax ID number. You will also need the Tax ID for all items that you will send to the IRS.
Last year, Georgia earned more than $80 million for the economy when Black Panther was filmed in Atlanta. Marvel Studios will commemorate their 10th anniversary with a huge bang through Black Panther that will introduce the hidden nation of Wakanda and its people to moviegoers.
Pinewoods Studios Atlanta has been regularly used by Marvel Studios since 2014. The first Marvel production that used the facility was Ant Man. Since then a number of MCU films that includes Captain America: Civil War, Guardians of the Galaxy Vol.2, Spider Man: Homecoming and the soon to be released Infinity War and an untitled sequel have started to use Atlanta as its primary photography base.
Blockbuster movies have certainly helped Georgia flourish. According to Deadline, during a recent early screening for crew members who worked on Black Panther, Charles Rivkin revealed that that the film generated $83.9 million for the economy of Atlanta. Black Panther smashed records for advance ticket sales because of the contributions made by the local community, local crew and vendors.
Considering that Marvel Studios has been repeatedly using Atlanta it is assumed that they have been treated well. However, there are certainly favorable arrangements like lucrative tax cuts. In return, Marvel Studios supported local businesses, hired Georgians and enhanced tourism in the state. Every time, Marvel Studios return to Atlanta, their experience gets better because of the creative professionals and the local community.
If your business has not yet obtained the GA Tax ID, do so now. You will need the Tax ID for all your transactions with the IRS. The Tax ID is for businesses while the Social Security Number is for American citizens. Even if you have a Social Security number, it cannot be used for tax and business purposes.