aw1234
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posted on August 1, 2001 06:06:57 PM
What is a reseller id and where can I get it? Is reseller id same as a federal tax id?
Thanks,
teal
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mcherry
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posted on August 1, 2001 06:15:37 PM
teal- no, a reseller ID is a state tax ID. Look under "state government" listings in your phone book and you should be able to find a toll free number to call for the info. If not, there's probably a "catchall" number that can direct you to the right office.
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aw1234
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posted on August 1, 2001 06:31:10 PM
Thank you.
Teal
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mrspock
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posted on August 1, 2001 06:43:47 PM
teal
do understand that once you get this Id you will then be responsible for collecting state sales tax and will probably have to file a monthly report ...be a day late in my state it is a 10% penalty plus intrest ...nasty folks to deal with.
spock here......
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aw1234
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posted on August 1, 2001 06:52:32 PM
Which state are you in?
I have to tell the state how much I've sold each month? You only collect taxes when you sell within in the state right?
so i guess its not worth it?
Teal
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mcherry
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posted on August 1, 2001 07:07:22 PM
Yes, you only have to collect taxes for buyers from the same state UNLESS your state tells you otherwise (some states have reciprocal agreements with other states). Also in some states you file and pay in the taxes quarterly rather than monthly. Your owns state agency which handles the reseller license is your best source of information. You can get all the information, then decide if you want to go ahead - you're not committed to following through with it by asking for information.
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mrspock
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posted on August 1, 2001 07:13:14 PM
teal
I'm in Fla and I beleive fla requires you to file monthly weather you have sales or not.
In fla you collect on new and used items
upside is you can buy wholesale and is long as the item is for resale you don't pay sales tax at the time you buy.
spock here......
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aw1234
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posted on August 1, 2001 07:28:30 PM
Thank you all.
I'm in new york and I actually called the SBA (Small Business Ass.) in my state and person referred me to an IRS office. When I called there, no one answered so I called back to SBA and another person said, they gave me the wrong information and would not give me any information until I come in person for SBA counceling. Weird.
Teal
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capotasto
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posted on August 1, 2001 07:44:49 PM
"Also in some states you file and pay in the taxes quarterly rather than monthly. "
In Mass. I understand that depending on the amount of your sales it can even be annually.
Forget the SB Ass. and the IRS, call your state sales tax office.
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sugar2912
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posted on August 1, 2001 07:54:42 PM
Clarification for FL DOR regulations, you file quarterly unless you sell a whole bunch of stuff. ($300,000 per quarter) If you are a small seller, you will probably be under the quarterly umbrella. Also, in FL, taxes are due on the first day of the new quarter, but not late until the 20th. All states make their own rules up so be sure you are in compliance with your own state's guidelines for filing dates.
Here is the link for New York:
http://www.tax.state.ny.us/Forms/sales_cur_forms.htm
If you plan on doing this as a business, you really SHOULD get your reseller's number. You really should be sharing with Uncle Sam at this point too. I have found it is always better to be "official" than it is to wait and see if you get caught. My husband's dad did time in the Federal Pen for tax evasion. Just something to think about!
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aw1234
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posted on August 1, 2001 08:12:52 PM
I pay full taxes, just under my own SS.
I asked my tax lawyer if I should get a reseller id but he said with my income, which ain't alot, its not necessary.
But I did attend a trade convention recently and alot of the wholesalers won't do business unless I have a reseller id. They just wanted to make sure that I wasn't buying stuff for friends etc.
thanks for the link.
Teal
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pwolf
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posted on August 1, 2001 08:35:59 PM
[ edited by pwolf on Oct 31, 2001 09:08 PM ]
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aw1234
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posted on August 1, 2001 09:31:06 PM
Thank you pwolf.
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pwolf
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posted on August 2, 2001 01:04:31 PM
[ edited by pwolf on Oct 31, 2001 09:12 PM ]
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AuctionPulse
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posted on August 2, 2001 02:08:47 PM
I am so glad this topic came up. Having a resale certificate will give you access to quality wholesalers who will not sell to you without it. The paperwork is kind of a pain - since you have to file even if you don't owe any sales tax. And you forgot they will fine you. Good luck.
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yisgood
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posted on August 2, 2001 02:14:14 PM
I'm in NY, so here are some details:
You will probably have to pay an annual fee to the city and state. I believe it's $100 and $300.
You will have to file sales tax quarterly unless your total sales tax collected is less than $250 a year. Since you only have to collect tax on NY orders, if you do business over the Net, you can probably file for the annual cycle.
Take note of what dates you have to file which forms. For a few YEARS after I started, I never got the forms but I did get the notices for penalties.
http://www.ygoodman.com
[email protected]
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pwolf
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posted on August 2, 2001 03:08:22 PM
[ edited by pwolf on Oct 31, 2001 09:18 PM ]
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