|
Question: crafts store
9/30/2022 4:20 PM Lexington,
Kentucky
KY.
i will be saleing online on amazon etsy and facebook i will be working out of my home but saling onl... Other
craftstore
with 1 Personel. .
Dealexandrastch
Oltra cricut creations custom designCo.
How to get my free business license
What is the difference between a tax ID and a sales tax ID?
Other
craftstore
Federal Tax ID Number vs. EIN.
Lexington Lexington-Fayette County
, KY
40503.
The first thing to decide is what business entity structure to select. There is a sole proprietor,
Here is what Licenses you are legally are required to get for craftstore in
Lexington, KY.
IMPORTANT:
Requirments below include Internet, Online, Websites, Home or eBay/Amazon Businesses)
Answer:
The following are the Licenses you need to start your Lexington Business.
99% of new businesses are required to get a(n) , Lexington
business tax registration.
Businesses with an trade firm name other than the owner's legal name are required to get a(n) Lexington-Fayette County DBA assumed business name certificate.
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 Kentuckyseller'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 KY Federal EIN and a(n) KY State Employer EIN
Instead of filing a fictitious business name DBA Filing in
Lexington, Incorporate in KY or form a(n) KY LLC
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.
Finally starting businesses must choose a business legal/tax structure. There are 4 major business entity structures: 1. A sole proprietorship a partnership an LLC and a corporation. You can select any one of them.
If you select a sole proprietorship you will need at a minimum a business tax registration (business license) and a trade business name registration.
|
|
|
|
How It Works
It's Free when you also order an incorporation,
llc or dba from us or two other documents. Apply for your Licenses today.
Learn how to apply for your Licenses yourself
safely and free. Get your tax number today.
Click To Get It Now
|
Obtain Your Licenses Online Now!
Click To Get It Now
| 34759
Online businesses operated from home need a business permit and all other licensing as any other business.
Note that all home based business are subject to the same licensing requirement as any business.
| | | | | | There will be home deliveries: | | | | I am a home based business. Do I need licensing?
Do online business operated from home need to obtain licenses and tax IDs? .
Physical location business.
If Merchandise is stored at home business location - unless a large amount - do not mention it:
Generally home businesses may have maximum 2 delivieries a day:
| |
Signs may be posted at home business location:
I might be storing home based business merchandise:
|
|
|
|
|
|
| 67881
If you have a partner you will need to register the company name and obtain a federal ID.
You need a sales tax id because your service includes parts and or materials you need to use to provide your service which are taxable.
Any businesses that sell prepared food need a seller's sales tax id number license.
.
In addition to a government small business loan from the small business administration you may be able to find other sources such as private loans or help from relatives.
Selling online requires a merchant account to run credit cards.
If you sell within the state your business is located you need to charge taxes.
You can obtain a free business license here online. You only need to buy any other item and the tax id will be free. Note that the free service does not include government fees or taxes.
Be tech wise and use the latest online technology to sell.
Find a hosting company that has ecommerce capabilities.
Consultants can be used but are not necessary for starting small businesses.
|
|
|
The following are the Licenses you need to start your Lexington small company.
99% of new businesses are required to get a(n) , Lexington
business tax registration.
Businesses with an trade firm name other than the owner's legal name are required to get a(n) Lexington-Fayette County DBA assumed business name certificate.
On the other hand you may also need a resale id AKA sellers permit if you sell merchandise that is taxable. (A.K.A Kentuckyseller's permit, state id, wholesale, resale, reseller certificate).
In addition you will need a federal and a state EIN if you will be an employer.
I.e., a KY Federal Tax Id Number and a(n) KY State Employer Tax Number
Instead of filing a fictitious business name DBA Filing in
Lexington, Incorporate in KY or form a(n) KY LLC
You have a choice to register a fictitious business name or form an LLC or incorporate.
Partnerships will need to obtain a federal tax id number.
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 "& associates" etc.
- FIRST STEP: Make sure you get
craftstore related tools such as specific equipment .
- SECOND STEP: determine the Lexington
business location (you home can be a business location).
- THIRD STEP: Obtain 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.
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.
You can offset personal losses against the profits of an LLC or S corporation.
|
|
|