Question: 85021
10/11/2016 9:07 PM
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with
2
Personel. .
DiXYZsch
I am looking to register my
World Wide SuperCo.
How to get my free tax id
What tax ID do I need to buy wholesale?
Federal Tax ID Number vs. EIN.
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I want to sell some homemade aprons at a couple of workshops. Do I need a vendor's license?Yes - What I am doing is making Barn Quilts - my husband does the boards, frames, and primes. A friend and myself do workshops for people to DIY. So I need to know what or where to start to research a small craft business license.I think so - lots to take in - we charge for the workshops which include everything. The participant then takes their board home completed. We do NOT have a name since this was a trial to see if there was interest.
what about a simple partnership? verses an LLC?
Thanks - no just a partnership at this point. We are basically giving away the product as we explore this concept.
I'm a credentialed teacher and I would like to offer summer enrichment workshops to local communities in riverside county.
I need to know what type of license or permit I would need
if we are just using Initials i.e. M& J Barn Quilts - do we need a DBA? | | | |
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Here is what tax ids you are legally are required to get for in
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IMPORTANT:
Requirments below include Web based, Online, Websites, Home or eBay Businesses)
Answer:
Here is a list of tax number ids you need to start your own small company.
All Businesses need a(n) ,
business tax id registration (business license).
All Businesses that use a business name to trade that is other than the surname and first name of a sole proprietor or a fictitious business name other than the LLC or Corporation legal name need a(n) DBA ( doing business as ) fictitious business name.
On the other hand you may also need a sales tax ID AKA seller's permit if you sell merchandise that is taxable. (A.K.A seller's permit, state id, wholesale, resale, reseller certificate).
In addition you will need a federal and a state EIN if you will hire employees.
I.e., a Federal Tax Id Number and a(n) State Employer Tax Number
Instead of filing a fictitious business name DBA Filing in
, Incorporate in or form a(n) LLC
Actually there is not just one but four tax ID numbers. First there is a general business tax registration ID. Second there is a state reseller number. Third there is a state EIN number and a federal EIN number.
New businessess whether home or other types will need a general tax registration that could be a business permit and or license. Sole proprietors just need that plus perhaps a registration of a business name certificate if in fact the business is using an assumed business name. E.g. if the business is called "Superior Medical Billing" it will need to file a DBA. Other than that employer sole owners will need both a federal ein and a state ein and if selling any type of widgets such as items on eBay or Etsy will need a state reseller number also called a seller ID or resale number.
In addition if the new business whether home business online or commercial location it will need to file a DBA doing business as certificate if in fact is doing business and using a trade name.
Corporations and LLCs need the business tax registration license and a federal tax ID number.
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Here is a list of tax number ids you need to start your own small company.
All Businesses need a(n) ,
business tax id registration (business license).
All Businesses that use a business name to trade that is other than the surname and first name of a sole proprietor or a fictitious business name other than the LLC or Corporation legal name need a(n) DBA ( doing business as ) fictitious business name.
On the other hand you may also need a sales tax ID AKA seller's permit if you sell merchandise that is taxable. (A.K.A seller's permit, state id, wholesale, resale, reseller certificate).
In addition you will need a federal and a state EIN if you will hire employees.
I.e., a Federal Tax Id Number and a(n) State Employer Tax Number
Instead of filing a fictitious business name DBA Filing in
, Incorporate in or form a(n) LLC
Filing a DBA is not required if you will set up an LLC or form a Corporation.
Finally if you will have more than one owner you will need to obtain a federal tax id number to indentify the partnership.
There is a cicrcumstance that you may not need to register a trade name and that is when you use your full name as a business name if you use your full legal name as a trade name.
Also note that even using your first and last name may not help you avoid filing a DBA if the name has a suffix such as "& sons" etc.
FIRST STEP: Ensure that you secure
related tools such as specific equipment .
SECOND STEP: I am planning to hire employees and want a stategy to reduce small business taxes employment taxes. find where your
business location (you home can be a business location).
THIRD STEP: Obtain tax ID number(s) and licenses. Here is the minimum registrations you need:
If you want to improve your business income set up a corporate entity such as a corporation or LLC. It will look better than a sole ownership and or a general partnership.
Some tips for reducing your self employment tax among others is to form an S corporation. Then pay yourself in dividents instead of salary because salary is subject to tax but dividents are not.
If you have a partner you will need to register the company name and obtain a federal ID.
If you are a service type of business but you also use parts you will need a sellers permit also called a resale license or resale certificate AKA sales tax id or seller's permit to collect taxes and or buy wholesale.
Any businesses that sell prepared food need a seller's sales tax id number license.
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Company: What is the tax ID total cost?.
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