2006-08-05 03:35:09 · 2 answers · asked by Desperate 2 in Business & Finance ➔ Small Business
Anything sold in the store in Arizona will be subject to whatever taxes Arizona charges on sales or specific items or categories of items. You would have to call Nevada's own department of commerce (whatever they call themselves) to ask if/how they tax income from a business venture in another state. The info should be free, and you will probably be able to have whatever that state office is send you an actual booklet/pamphlet explaining how such taxes are determined, assessed, reported. Be sure to keep good records and do what's required. You don't want to ever have to straighten out a tax-dodge investigation/suit in a fight with a state gov't. Would take years and would send Bill Gates to the poorhouse. Do well, make lots of money, share it with us. OK?
2006-08-05 04:57:28 · answer #1 · answered by ctfryland 1 · 0⤊ 0⤋
You'll need to register your store with Arizona and pay appropriate taxes to them. Then you'll report your income/loss to Nevada.
This assumes that both states require you to pay income taxes. At minimum, Arizona will expect your business to pay taxes to them.
2006-08-05 10:50:35 · answer #2 · answered by Michael Myklin 3 · 0⤊ 0⤋