pay no tax. The items bought at wholesale prices, are then resold, and tax is paid by the consumer at the time of purchase. Note that many states required you to obtain a federal tax ID in order to obtain a wholesale license to purchase for resale or wholesale.
Note that in addition to getting a wholesale license, you may need to file a DBA http://www.bizpermit.com (doing business as) certificate if you do business in a business name other than your personal legal name. Also, keep in mind that all businesses are required to obtain a business license or a home occupation permit regardless of whether you are a home, online, retail, wholesale or internet business. All businesses need a business license in addition to a wholesale license. If you will hire employees, you will be required to obtain a federal tax id number http://www.tax-id-number.info as well as a state employer identification number as well.
How to Get a Wholesale License
You can hire an attorney http://www.stassinos.com or a legal filing service to do it for you . You can also do it yourself, however, it takes a while just to find the correct form and the correct agency to file it. The application asks basic personal questions including your social security number as well as the projected gross income.
Here is a site that can help you obtain your wholesale license: http://www.filingsusa.com .
Robert Harris is a legal filings consultant. He has helped thousands of small business owners start their first business enterprise. Learn the essential steps to getting your tax id number, LLC, incorporation, or DBA business license and all required documents to start your business by visiting his website at www.filingsusa.com .
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