i live in kerrville texas and i am intersted in getting a tax id number, how do i get that and what purpose does it serve? i am interested in buying small retail items to put in my new salon i am going to open in the near future.
2006-10-06 15:57:55 · 6 answers · asked by pooh bear 4 in Business & Finance ➔ Taxes ➔ United States
You are talking about a couple of different types of Texas permits. One is a sales and use tax permit. That allows you to collect and remit the sales tax from your customers who buy the items.
The other is a Texas resale certificate. That allows you to buy the items from your wholesale suppliers without having to pay sales tax yourself at the time of purchase.
The Texas Comptroller of Public Accounts has a great website (link included below) that should answer all of your questions and that also contains links to the forms that you need. Good luck with your business!
2006-10-06 16:11:45 · answer #1 · answered by Latrice T 5 · 0⤊ 0⤋
That depends. A federal tax ID number is only needed for employers who have employees and file Payroll tax forms. In your state you may need a sales tax ID number for selling items in your shop. This would be required for filling a sales tax return for your shop, usually monthly, for what your sold and how much sales tax you owe your state. In that case you would need to contact your state revenue service and they will send you a form to fill out, once received they will give you an ID number and instructions to follow to report your income.
Hope this helps
2006-10-10 22:15:46 · answer #2 · answered by doris_38133 5 · 0⤊ 0⤋
The Small Business Association, SBA, has a great website that will help you as an entrepreneur. They even offer free counseling that will help you out in your startup. This is a governmental agency known for helping businesses. Do something TODAY to get your business off the ground. Knowledge is power.
2006-10-06 23:37:50 · answer #3 · answered by Anonymous · 0⤊ 0⤋
It's simple you just go to your local IRS office, fill out a form w/ the help of the CSRep., State why you want the #, and/or discuss that with the rep. She makes a call, you read off the info to the called rep and she gives you the number. It's used for various reasons: I just got one myself. M y Mother just passed away and in order to cash monies that are made out to her estate I had to open a separate bank acct., and in order to do so I needed a tax ID #. You may need one for new and separate sales.
Hope this helps.
2006-10-06 23:10:03 · answer #4 · answered by oneredtear 1 · 0⤊ 1⤋
You need to go to your nearest Dept Of Revenue and you can apply or if they have a website, you might be able to do it online. I'm not sure if they would charge you a fee, but I think most states do. Also you can go to www.IRSAuthority.com and apply online.
2006-10-06 23:17:06 · answer #5 · answered by DevilsHorns 1 · 0⤊ 0⤋
go to this irs website and you should be all set.
http://www.irs.gov/faqs/faq-kw67.html
2006-10-07 10:08:05 · answer #6 · answered by Kenshin 5 · 0⤊ 0⤋