| Starting a(n) Car Dealer Business Licenses & Tax IDs |
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Hi, I'm Joshua Duluth MN
Car Dealer
Retail Trade business online/offline. I will buy clothing and accessories at wholesale and Sell on the internet and/or in person to customers in Minnesota or / all 50 states from my home office..., Joshua. |
Hi, I'm 39501
Car Dealer
just trying to get a idea on the price and what I need to have we just started a used car lot and I am trying to figure out what I need i am not starting abusiness need to verify a fed id numbermy husband is looking to open a whole sale car business.
i would like to find out first if i could obta..., . |
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You can choose to be a(n) Car Dealer :
- Sole Proprietor,
- LLC,
- Corporation or
- Partnership.
After you decide and select your business entity, you need licensing.
Gulfport Business Tax Registration (
Car DealerBusiness License)
All businesses including home, online or mobile BUSINESS need a BUSINESS license because they are BUSINESSES.
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A(n) Car Dealer business using a fictitious business name in
Harrison County
i.e. you are a business with a trade name other than the owner's legal (full name) name are required to get a(n)
fictitious business name.
For instance you open a(n)
Car Dealer
business and you name it "Superior
Car Dealer
Group". You will need to file a fictitious business name for that name.
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In
MS
Car Dealer
you need a resale ID ( AKA seller's permit) if you selling touchable items.
(A.K.A state id, wholesale, resale,
reseller certificate, about $39 for most states). You will need it if you sell or want to buy wholesale any Car Dealer related items, such as food, materials, or merchandise.
Seller's Permit
Note: All businesses need a federal tax ID number except sole proprietors that are not employers and are not independent contractors.
An independent contractor is a self employed business person that receives more than $600 per year from anyone of his or her clients.
IRS rule: The client must issue a 1099 form to the independent contractor and the independent contractor must have a federal tax ID.
However, even sole owners may obtain a federal ID and use it as a business tax ID instead of using their own social security number as a
business tax ID number.
However, all other licenses that apply to sole proprietors as discussed here are requited regardless of getting
a federal tax ID number.
In addition you will need a federal and a state EIN if you will hire employees.
I.e., a MS Federal Tax Id Number ($29)
and a(n) MS State Employer Tax Number
Instead of filing a fictitious business name DBA Filing (about $49 plus state and legal newspaper publication fees) in
Gulfport, Incorporate in MS or
form a(n) MS LLC .
You have a choice to file a DBA or form an LLC or incorporate.
If you will do business under your first and last legal name you will not need to get a fictitious business name.
Also note that even using your first and last name may not help you avoid filing a DBA if the name has a suffix such as "& sons" etc.
If you do form an Wholesale Trade llc or incorporate (about $49 plus state fees for most states) your Car Dealer business instead of just filing a fictitious business name (dba),
that insurs that you don't have personal liability for debts and civile liabililty arising from your business dealings and you will not have to record the Gulfport business name.
In lieu of recording a Harrison County trade company name (our filing service fee includes trade name registration and newspaper legal publication for 4 weeks) you can also form a corporation in
MS or form an MS LLC (starts @ $49 plus state fee for most states & includes required documents such as bylaws for the corporation and Limited Liability operating agreement for the LLC). .
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just trying to get a idea on the price and what I need to have we just started a used car lot and I am trying to figure out what I need i am not starting abusiness need to verify a fed id numbermy husband is looking to open a whole sale car business.
i would like to find out first if i could obtain a used car permit yes i am thinking to start business used car dealerok but the city allowes me to do so in hacienda hieights my husband and I been helping dealer buy cars at the auction as they registered us as a buyer.
We work as an independent auto broker, no dealer license as we use their license. We always receive form 1099 under our name. We will be doing the same type of work , but we like to set up LLC and apply for EIN. Do we need license or permit for this LLC setup ? |
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| Duluth
Joshua
4/28/2021 7:51 AM
. | Duluth MN
Car Dealer
| Retail Trade business online/offline.
I will buy clothing and accessories at wholesale and Sell on the internet and/or in person to customers in Minnesota or / all 50 states from my home office |
| | JoshuaDuluth, MN. | | |
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