ANSWERS: 5
  • All the government cares about is that you pay any taxes you owe. Your state has laws about whether or not you have to collect taxes on things you sell from your website. The rules are different for customers who live in the same state you're in and for customers who live in other states. You'll probably need to file a State and Federal Tax Return...even if it turns out that you don't really owe anything after you do the calculations. Just because you are not of age yet does not excuse you from paying taxes if you make more than a certain amount. We set up a website business and all we have to do is keep records about the COST of what we're selling, how much we SOLD IT FOR and how much SALES TAX (if any) we collected. Then we file a small business tax return with the state. We show the income as regular income on our Federal tax returns. You can probably easily find the rules for your state on the web. When it's tax time, consult a professional or someone you trust to know the best way to file a tax form. Good luck. I hope you get rich!
  • Not sure how envolved you intend to be but it will be a business and applying for a license should be required, not sure about an interenet business but you will have to charge sales tax on in state orders. I believe that's all states but most if not all do not require for out of state. You'll have to keep financial records, it's not just common sense but the law to do so for audit purposes. I hope you have put alot of thought and research into this before you get started and invest too much as well as you look at it reasonably. Enthussiasum is great but being too enthussiaistic can lead to major dissappointment which can hamper if not be a huge factor in failure. You'll also need to set up your policies etc. posted on your web site which should include lyabilities which will protect you and should be written by an attorney but you can for right now atleast take some pointers off of others to guide you and do it correctly when you can afford to do so if you can't currently.
  • like the dude said before just pay the taxes. Just come up with a unique name a milk that shit for what its worth. Come up with a badass slogan and u got it made
  • hey kid, what kind of clothez u tryin to sell???
  • For tips on how to start and run your own business, scroll down to the bottom of this page and click on "How to Articles" then type "How to start a business" in the search box.

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