do you have to have a liscence to start an online store?
2007-08-06 12:09:27 · 1 answers · asked by Allyson 1 in Games & Recreation ➔ Hobbies & Crafts
If you live in a state that has sales tax, you have to have a tax license, and then if you sell to anyone in your state, you have to collect tax and turn it over to your state at certain intervals (they will tell you). If you don't collect any tax, you still have to show them that you did x amount of business but didn't sell to anyone in-state. That's the only kind of license you would need.
When it's Federal income tax time, you do have to declare all of your earnings and you should get a tax preparer to help you, or at least a friendly IRS agent to show you the right forms to use.
You should ask your state revenue office if there are certain rules that apply to minors doing business.
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2007-08-06 12:24:24 · answer #1 · answered by Kacky 7 · 0⤊ 1⤋