LA Tax ID Number
LA Tax ID Number
|clothing and purses
Selling clothing, whether a boutique, online store, ebay or amazon requires first and formost a selection of a business structure. With that in mind, there are 4 major structures. A sole proprietorship, a partnership, an LLC, and a corporation. Choose one of these and you are on the road to getting the rest of the required licenses with the first being a sellers permit. A sellers permit will enable you to buy wholesale clothing, sell it or even sell it at the retail level. It also lets you pay the sales tax you collect to the government. So e.g., you sell a pair of pants for $10, you need to charge 8% tax. So you charge $10.80. You keep the $10 and you pay the government the $0.80 cents. Furthermore, you will need to get a general business license simply because all businesses need to get one. In addition, if you get any help selling clothing, you will need both a federal ID and a State Employer Identification Number because you will need to pay employment taxes. For example, you hire Natalia and Roberto as clothing sales workers. You need to pay them the hourly wage plus their employment taxes. They pay half and you pay the other half as their employer.
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Frequently Asked Questions:
Q: I started a business as a partnership but never really took off. Do I still need to file an IRS return?
A: If you filed for a a partnership but never started a business, you need to file a tax return anyway and just fill out the gross business income as zero. Otherwise the IRS will charge you with a penalty for non filing the return.
Q: What if the independent contractor is an LLC or corporation, do I still need to send them a 1099 form?
A: To be safe, yes, send everyone that does any work for you for more than $600 a 1099 form.
Q: I hired someone for business consultation last year and it turned out my business was her only client. Do I treat her as an employee or as an independent contractor?
All businesses must file an income tax return each year
Q: What is an EIN?
A: An EIN is an IRS employer as well as business tax ID number.
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Question: Wholesale License In Louisiana
11/17/2011 1:02 PM
Rags To RichesCo.
How to register for business tax
Concerned about your personal wealth?
What ID do I use for self employment tax?
I regularly come into personal contact with clients.
Haynesville Claiborne Parish
|I wan to sell clothing, shoes, acessories, purses, and hair|
Here are tax registrations that are required to get for
Business Type in The City Of
Requirments below include Web based, Online, Websites, Home or eBay Businesses)
You have a choice to file a DBA or form an LLC or incorporate.
Finally if you will have more than one owner you will need to obtain a federal tax id number to indentify the partnership.
You need a tax ID but you may also need a DBA filing
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.
Wholesale License In Louisiana Answer:
Here's a checklist for LA
Tax IDs and tax registration legal requirements for starting your own small business in
small business :
- FIRST STEP: Make sure you get
- SECOND STEP: I am planning to hire employees and want a stategy to reduce small business taxes employment taxes.
find where your Haynesville
business location (you home can be a business location).
- THIRD STEP: Obtain permits,tax ID number(s).
Here is the minimum licensing 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.
Perhaps the sole way of avoiding lawsuits and creditors after your assets such as your home and automobile is to form an LLC or incorporate.
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 are a partnership means you are a business entity with multiple owners and thus you will need a dba and a federal ID. |
If you are a service but you also use parts you will need a sales tax Id also called a resale license or resale certificate to collect taxes and or buy wholesale.
If the food is cooked or prepared in any way sales tax must be collected when sold. That requires a sales tax license.
If you use your family name as a trade name you may not need to register an assumed business name but if lets say your business name includes a suffix such as and sons or and co you will need to file a dba ficititious business name.
However even if you use your last name in the business name if you have an ending that says that there more owners you need to file a fictitious name.
If you are a member of a learned profession such as lawyer, architect etc, you will need to pass a state professional exam.
Also you can simply use a bank with low interest rate or familly members to fund your enterprise.
When you start your own merchandise selling -- you need a merchant account which is simply a checking account used to process credit card transactions.
A home business license is also called a home occupation business license that you get for doing business from home.
You can use a business plan to start a business but you do not really need it.
Make sure your domain name has a word of your service of product in it.
Get a state of the art website to sell your services or products.
A secure shopping cart on your website is a must.
Nice glossy business cards may help your marketing efforts.
Get all the business advice you can but get it free for now.
FINAL STEP: Since it is a store or similar set up you may be subject to litigation so you may need to form an LLC or incorporate