I do home repairs and charge an hourly rate in WI and manage my rentals an a few for other people when i am not doing repairs. I bill them for the materials seperatly and pay tax on those materials when i buy them? I do not have an LLC or S corp or anything.
2007-09-18 20:10:06 · 2 answers · asked by Cj2140 2 in Business & Finance ➔ Renting & Real Estate
Yes! WI taxes tangible personal property AND services! You must collect and remit sales tax on your gross receipts, NOT just on the cost of materials! It does NOT matter how your business is legally organized. See here for more information on collecting and remitting WI sales tax, straight from the WI DOR: http://www.dor.state.wi.us/pubs/pb201.pdf
2007-09-18 22:38:00 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Do you have a contractors license? What you are doing is contracting for hire and without a bond and insurance and you have no license? A LLC or S corp will not help you. Fines can be high if your get caught contrating without a license up to $5,000. Check with your states DOL.
2007-09-19 12:00:07 · answer #2 · answered by Leo F 4 · 0⤊ 0⤋