| Starting a(n) Online Tool Store Business Licenses & Tax IDs |
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Hi, I'm Patrick Get Sc Business License Llc
Online Tool Store
Used tool resale business licenses and wholesale permit in Greenville, SC🛠️SC · WHOLESALE
Patrick · Greenville, SC Get SC Business License LLC: what do I need to start a used tool resale business in Greenville, SC?
Patrick told us: “I am in sales and I buy used tools and sell them o..., Patrick. |
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You can choose to be a(n) Online Tool Store :
- Sole Proprietor,
- LLC,
- Corporation or
- Partnership.
After you decide and select your business entity, you need licensing.
Greenville Business Tax Registration (
Online Tool StoreBusiness License)
All businesses including home, online or mobile BUSINESS need a BUSINESS license because they are BUSINESSES.
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A(n) Online Tool Store business doing business under an assumed business name in
Greenville County
i.e. you are a business that uses a DBA doing business as trade name to trade that is other than the full legal (first and last -- full name) name of a sole proprietor or a name other than the LLC or Corporation business name need a(n)
assumed business name certificate.
E.g. you venture into a(n)
Online Tool Store
business and you give it a trade name such as "Excellence
Online Tool Store
& Associates". You will need to register an assumed business name certificate.
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In
SC
Online Tool Store
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 Online Tool Store 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 SC Federal Tax Id Number ($29)
and a(n) SC State Employer Tax Number
Instead of filing a fictitious business name DBA Filing (about $49 plus state and legal newspaper publication fees) in
Greenville, Incorporate in SC or
form a(n) SC LLC .
Filing a DBA is not required if you will set up an LLC or form a Corporation.
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 Retail Online llc or incorporate (about $49 plus state fees for most states) your Online Tool Store 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 Greenville business name.
In lieu of recording a Greenville 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
SC or form an SC LLC (starts @ $49 plus state fee for most states & includes bylaws for the corporation and Limited Liability operating agreement for the LLC that is required to open a business bank account). .
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| Greenville
Patrick
10/13/2021 8:06 PM
. | Get Sc Business License Llc
Online Tool Store
| Patrick · Greenville, SC Get SC Business License LLC: what do I need to start a used tool resale business in Greenville, SC? Patrick told us: “I am in sales and I buy used tools and sell them on Facebook Marketplace, eBay, and in person.” Hi Patrick, buying used tools to flip is a resale business, so South Carolina expects the Retail License. The Form ST-8A Resale Certificate helps with purchases from businesses that charge tax, but private sellers charge none. Selling on Marketplace, eBay and in person all count, and some cities require a secondhand dealer permit. Online Tool Store needs a DBA unless it is your LLC. Short answer: Get SC Business License LLC: a used tool resale business in Greenville typically needs the Retail License, a federal tax ID number (EIN) and a local business license, with an LLC and a DBA if you use a trade name. Buying and selling wholesale in South CarolinaSouth Carolina calls its seller's permit the Retail License. To buy for resale without paying sales tax, you give the supplier a Form ST-8A Resale Certificate. A retail license is required for retail sellers; a business making only wholesale sales may not need one. South Carolina also accepts the multistate uniform certificate in place of its ST-8A form if it contains the same information. Your Greenville filing checklist- LLC – suppliers and banks take an LLC more seriously than a name on a napkin
- Trade name (DBA) – South Carolina has no general statewide DBA filing; some cities or counties keep their own trade name records, and an LLC under its exact name needs none
- Federal tax ID number (EIN) – needed for your 1 employee and payroll reports
- Retail License – required before the first taxable sale, including online, flea market and craft fair sales
- Form ST-8A Resale Certificate – hand it to suppliers to buy inventory for resale without sales tax
- State employer ID – for state income tax withholding and unemployment insurance
- Greenville business license – the city or county tracks who does business there and checks safety rules
- Secondhand dealer permit
Same permit, different names in other states- Arizona: the Transaction Privilege Tax (TPT) license. Arizona's TPT is a tax on the seller's privilege of doing business, not a tax on the buyer.
- North Carolina: the Certificate of Registration (sales and use tax). North Carolina lets registered wholesale-only merchants opt out of filing sales and use tax returns.
- Oregon: No statewide sales tax, so no seller's permit; out-of-state suppliers may still ask for documentation such as a multistate exemption certificate.
Industry code: NAICS 453310 (Used Merchandise Stores), 459510 under the 2022 update Get your Retail License filed · Start your LLC, DBA and EIN · Business licenses |
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