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Author Topic: Tax ID number  (Read 1573 times)

Long Roller

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Tax ID number
« on: January 21, 2006, 01:03:27 PM »
I own a "pro shop" that I run out of my basement.  I just started it up and I don't have many customers at all.  I'm not sure that I am pushing to grow very much, but I'm not sure if I should pursue getting a tax ID number.  I know you need one to buy at pro shop prices, but is that all you need and if I don't do a whole lot of business, does it make sense?
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Shane Soule
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jkiser01

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Re: Tax ID number
« Reply #1 on: January 21, 2006, 10:00:17 PM »
I don't think a tax number will allow you to buy at pro shop prices.. You need a business name and address that the ball companies will confirm before you can buy directly from them..
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Long Roller

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Re: Tax ID number
« Reply #2 on: January 21, 2006, 10:05:21 PM »
Well a business name and my home address is the easy part.  It's the tax id number that they would want after that, I'm guessing...
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Shane Soule
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scotts33

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Re: Tax ID number
« Reply #3 on: January 21, 2006, 10:06:52 PM »
Shane--How do you file state sales tax if you don't have a tax #?
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Scott

Rev_O

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Re: Tax ID number
« Reply #4 on: January 21, 2006, 10:10:32 PM »
he probably doesn't file state taxes since it's a start up run out of his basement. I know that for some distributors, you need a tax id number to purchase from them (ace mitchell) You should be able to get a tax id number with no problem, and if I were you, i'd do so!!
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Long Roller

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Re: Tax ID number
« Reply #5 on: January 21, 2006, 10:12:04 PM »
Don't I need a seperate one for a business for the ball companies to recognize me as a customer.  I'm sure I have my own personal tax id number that I pay personal taxes on, but not seperate for a business.  Does this make sense?
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Shane Soule
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scotts33

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Re: Tax ID number
« Reply #6 on: January 21, 2006, 10:16:57 PM »
It really depends on the state you reside in and where you are buying and selling/reselling.  That's the point reselling!  

Shane IMO you are leaving yourself open but that's your choice.  I'd do more research.
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Scott

Long Roller

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Re: Tax ID number
« Reply #7 on: January 21, 2006, 10:22:49 PM »
Thanks, that gives me a start.  I'll probably end up paying taxes like a normal business just to be safe.  But if my sales are low as I expect them to be, it won't be a back breaker.  Anyone in a similar situation?

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Shane Soule
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scotts33

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Re: Tax ID number
« Reply #8 on: January 21, 2006, 10:28:00 PM »
No, it won't be back breaker.  What it becomes for most small business folks is a record breaker.  Quarterly sales tax is a a form that's always nagging at you but you have to file as the state will come after you.  

But, it's necessary to be on the up and up.  Part of being a capitalist.  Also why you don't run a business to be in it for fun/free or otherwise.
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