ANSWERS: 1
  • when you apply for your business license, the city issuing the license should provide you with most of that information - You might also check your local Better Business Bureau and/or a local Small Business Administration office for more advice. There's likely to be a whole slew of different taxes you must deal with, especially if you have employees... including State Unemployement Insurance, Workers Comp, federal/state/local income tax withholding, social security and medicare withholding, federal/state/local garnishment orders (not really taxes, but still), Sales Tax, property tax, particular licenses and other fees, depending on the type of business. If you're talking about Sales Tax, usually a retailer is only responsible to collect sales taxes applicable for their location only.... provided you are not talking about sales that are mailed to other places. If you, as a retailer, make sales to residents of other states (and counties/cities with local sales tax) you are typically only required to collect sales tax if it is mailed to the region where your store(s) physically exist. You do not have to collect and pay sales tax to a state/county/city where you do not physically have a store. HOWEVER, there has been a lot of talk lately at the Federal level to rescind that law and force retailers to collect and pay all applicable sales taxes for the destination region. I don't believe this has happened yet, but it is likely.

Copyright 2023, Wired Ivy, LLC

Answerbag | Terms of Service | Privacy Policy