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| Starting a(n) Fashion Store Business Licenses & Tax IDs |
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Hi, I'm Matthew 39180
do i need any type of license to start a Fashion Store business
trying to find the form to start a small business and get a name and tax ID number Fashion Store Clothing, T-shirts, crafts, do weddings, and Photo's I would like to know if I must have a licence for doing Fashion Store.
A:
Yes, ..., Matthew. |
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do i need any type of license to start a Fashion Store business
trying to find the form to start a small business and get a name and tax ID number Fashion Store Clothing, T-shirts, crafts, do weddings, and Photo's
I would like to know if I must have a licence for doing Fashion Store.
A:
Yes, Buy Wholesale Clothing Fashion Store for your Business, you need a SELLERS PERMIT. ... to sell retail or sell or buy wholesale...., u need a business license because you are a business end, and you need an ein and a dba to open a bank account.
A license is necessary for Fashion Store Clothing Business. Here is what you need and how to Form LLC
Fashion Store Clothing Business LLC
. You can sell and by all means, you can sell anything you want and you can form an LLC
for your Fashion Store Clothing Business.
An LLC
filing costs less than $200 and tt will protect your personal assets and the business assets. For example, if anyone sues you personally for any Fashion Store Clothing Business LLC
company wrongs ( e.g., someone slips and falls in your store) you will be protected because the LLC
is a separate business entity.
You also need a business license, an EIN.
At any rate, your fictitious business name "Fashion Store Clothing Century Events," has to be registered with a DBA, LLC
or Corporation. An LLC
registers the business name as well as protects you from liability.
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1. SELECT LLC, DBA, CORP
From sole propr., MS LLC, MS partneship or MS Corp.: Each requires an entity certificate filing.
2. TAX IDs - PERMITS
All
Retail Trade
businesses/entities need a business license and an EIN.
3.
MS STATE SALES TAX ID.
Selling/Buying wholesale or retail
requires a MS 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.
Vicksburg 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
Warren 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
MS
you need a resale ID ( AKA seller's permit) if you selling touchable items.
(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 MS Federal Tax Id Number ($29) and a(n) MS State Employer Tax Number
Instead of filing a fictitious business name DBA Filing (about $49 plus state and legal newspaper publication fees) in
Vicksburg, Incorporate in MS or form a(n) MS LLC .
You have a choice to file a DBA or form an LLC or incorporate.
If you will do business under your first and last legal name you will not need to get a fictitious business 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 Retail Trade llc or incorporate (about $49 plus state fees for most states) your business instead of just filing a fictitious business name (dba),
it will help you avoid personal liability from wrongs arising from your business dealings and you will not have to file the Vicksburg business name.
In lieu of recording a Warren County trade company name (our filing service fee includes trade name registration and newspaper legal publication for 4 weeks) you can also form a corporation in
MS or form an MS 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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