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tax free reseller permit?

Author :

Submitted : 2018-06-15 04:27:06    Popularity:     

Tags: free  tax  permit  reseller  

What is the minimum I have to do in order to attain a reseller license in order to buy products from stores tax free for the purpose of reselling? thanks

Answers:

no minimum

You apply to your state treasury for a certificate/permit of exemption for sales taxes on your purchases, or whatever they call it, showing what sort of business you're in that collects sales taxes, open an account, etc. If you have an LLC or a corporation (with a separate SSN), they would also want that. If your're a sole proprietor, using your own SSN for the company, you'd use that. Once they grant the permit, you show it to your in-state suppliers who would otherwise want you to pay sales taxes.

You can also remind your customers that they are responsible for paying their own states' sales and use taxes (if any), when they are not located in your state when buying from you. Not all sales are taxable under your state's laws.

You have to establish yourself as a business in the business of reselling products. Then apply for a tax ID number for your business. Products consumed by your business is usually taxed - you're a consumer for those items.

You have to register as a sales tax vendor with your state. Once you have your number you can start giving your suppliers the certificate. You will have to file quarterly sales tax reports to report your sales and the sales tax collected. Most states require you to file those reports even if you had no taxable sales for the quarter. You cannot use the certificate to buy things for personal use.

that's not the point,
for you to purchase merchandise and not pay any sales tax to the vendor you need to have an exemption, ie you need to be a verified retailer, a non profit that is not reselling the merchandise

There is no minimum.

However, getting a resale license obligates you to collect sales on your applicable sales and remit those sales taxes to the tax authorities on a monthly, quarterly or annual basis.



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