I live in Illinois. I want to buy products from drop shippers and wholesalers, but first I needed to get my sales tax ID. Before I could get my sales tax ID, I needed an EIN number. I got the EIN and then I got my IBT (Illinois business tax number/tax ID) but I will never have employees. Recently I got a letter from the IRS telling me how I should pay my taxes and when I should pay. Yet these directions are purely alien to me. Obviously, I know nothing of taxes and I do not really know what to ask here, but: if I have no employees and if I use my tax ID to buy from legitimate wholesalers and then sell those items on eBay, how should I pay my taxes? How much do I need to make to pay the IRS, more than 20,000 a year? Do I need to fill out a tax form every time I sell an item?
2007-06-20
03:54:14
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7 answers
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asked by
James
1
in
United States