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| Starting a(n) Farm Business Licenses & Tax IDs |
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Hi, I'm Gottel dairy goat
Hi, I am buying a farm and plan to buy some cows. I will be buying a barn and hay and wish to use these as private ranch raising livestock.
Do I need to be LLC? I will raise poultry, livestock and fishery and I would like info on how to obtain a wholesale distributor license to sell feed for live..., Gottel. |
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Hi, I'm crawfordsville 47933
I am a small greenhouse with property to line out crops. I have berries, rhubarb, elderberries and goji berries on the property. Sell from my property, farmers markets and on line, by appointment. Product to include tomatoes and peppers, plants and final produce. Micro-greens, lettuce and cole crops..., . |
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As the majority of Farm businesses, 99.9%, you will need an occupational business license even if you obtain a free LLC
filing or you incorporate. In addition, you may need a federal tax ID number, and if you sell any merchandise, you will need a resale tax ID number. Also note that all LLC
s need an occupational business license.
Also, if the LLC
has more than one member, or you will file a tax return for the LLC
as a corporation as opposed as a disregarded entity, you will need a federal tax ID number for the LLC
.Starting a business fist step is to choose the tax legal structure.
There are three major ones:
1. Sole proprietor,
2. Partnership, and
3. Corporation or Limited Liability Company.
All small, home or web based Farm businesses as well as big businesses must choose and register as on of the above. In addition, businesses must obtain a business tax registration occupational license receipt. If selling any taxable items,a business must also get a reseller ID number to buy wholesale and sell retail. Finally, if a business is an employer, it needs to get a federal EIN and a State EIN. |
1. SELECT LLC, DBA, CORP
From sole propr., IN LLC, IN partneship or IN Corp.: Each requires an entity certificate filing.
2. TAX IDs - PERMITS
All
Internet Business
businesses/entities need a business license and an EIN.
3.
IN STATE SALES TAX ID.
Selling/Buying wholesale or retail
requires a IN seller's permit.
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You can choose to be a(n) :
- Sole Proprietor,
- LLC,
- Corporation or
- Partnership.
After you decide and select your business entity, you need licensing.
Crawfordsville Business Tax Registration (
Business License)
All businesses including home, online or mobile BUSINESS need a BUSINESS license because they are BUSINESSES.
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A(n) business using a fictitious business name in
Montgomery County
i.e. you are a business with a trade name other than the owner's legal (full name) name are required to get a(n)
fictitious business name.
For instance you open a(n)
business and you name it "Superior
Group". You will need to file a fictitious business name for that name.
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In addition note that in
IN
you may also need a seller's permit if you sell merchandise that is taxable.
(A.K.A state id, wholesale, resale,
reseller certificate, about $39 for most states).
Seller's Permit
Note: All businesses need a federal tax ID number except sole proprietors that are not employers and are not independent contractors.
An independent contractor is a self employed business person that receives more than $600 per year from anyone of his or her clients.
IRS rule: The client must issue a 1099 form to the independent contractor and the independent contractor must have a federal tax ID.
However, even sole owners may obtain a federal ID and use it as a business tax ID instead of using their own social security number as a
business tax ID number.
However, all other licenses that apply to sole proprietors as discussed here are requited regardless of getting
a federal tax ID number.
In addition you will need a federal and a state EIN if you will hire employees.
I.e., a IN Federal Tax Id Number ($29) and a(n) IN State Employer Tax Number
Instead of filing a fictitious business name DBA Filing (about $49 plus state and legal newspaper publication fees) in
Crawfordsville, Incorporate in IN or form a(n) IN LLC .
You have a choice to file a DBA or form an LLC or incorporate.
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.
If you do form an llc or incorporate (about $49 plus state fees for most states) your business instead of just filing a fictitious business name (dba),
that insurs that you don't have personal liability for debts and civile liabililty arising from your business dealings and you will not have to record the Crawfordsville business name.
Instead of just registering your Montgomery County assumed business name (our fee includes assumed business name registration and legal newspaper publication) you can choose to setup a corporation in
IN or form an IN LLC (starts @ $49 plus state fee for most states & includes required documents such as bylaws for the corporation and Limited Liability operating agreement for the LLC). .
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