English Deutsch Français Italiano Español Português 繁體中文 Bahasa Indonesia Tiếng Việt ภาษาไทย
All categories

Or if you are a sole proprietor will they accept your social security number?

2006-11-29 08:56:18 · 2 answers · asked by Anonymous in Business & Finance Small Business

2 answers

Assuming your state has a sales/use tax, the main reason a wholesaler will want a tax ID number is for sales tax purposes. If you are planning on reselling the merchandise, you want to buy it without paying sales tax to the wholesaler. The wholesaler may be held responsible for any sales tax on their sales to you unless they can show you are exempt from paying the tax. In order to show exemption, you will need to furnish an EIN or a State Retailer/Reseller ID number, which you get from your state. But if you are going to be using the product yourself, then you need to pay sales tax to either the wholesaler or your state (as a use tax). Then the wholesaler will not need your state Retailer/Reseller ID number and you can use your SSN as your EIN. As a sole proprietor your EIN is usually your SSN anyway, unless you have employees. If you have employees, then you need to get a FEIN, and that's another whole discussion.

2006-11-29 14:26:04 · answer #1 · answered by macc_1957 3 · 0 0

That all depends on the state/city/country you live in.Most will issue a FEIN number to you.You can do it online.

2006-11-29 08:58:44 · answer #2 · answered by gibbyguys 4 · 0 0

fedest.com, questions and answers