[Tax ID Label (1)]

Specify the tax registration number, if any, for the tax ID. If the vendor is a corporation, a tax registration number is not required, so leave this field blank. The label of this field is user-defined on the Tax Systems form.

For EU companies, this field can be used to specify the vendor's VAT number on the Vendors form when the system is set up for VAT .

For US companies, the system does not generate a 1099 form for a vendor if you do not enter a federal ID in this field. The system generates 1099 forms for all vendors that have federal IDs defined and that have earned more than the minimum required by the IRS.