Starting a(n) Trading Cards Business Licenses & Tax IDs

Hi, I'm Rebecca What Licencses Trading Cards Trading card shop licenses and wholesale permit in Birmingham, AL🃏AL · WHOLESALE

Rebecca · Rebecca Trading Cards · Birmingham, AL What licencses? (A trading card shop in Birmingham, AL)

Hi Rebecca, trading cards are taxable goods, so Alabama expects a sales tax license for Rebe..., Rebecca.

Hi, I'm 35640 Trading Cards Trading card shop licenses and wholesale permit in Hartselle, AL🃏AL · WHOLESALE

Hartselle, AL What licenses does a trading card shop need in Hartselle, AL?

Rows of sleeved cards under glass, a quiet pack-opening gasp and a customer tilting a rare card in the light.

Short answer: In Ha..., .

Trading Cards

✔ Biz Structure

You can choose to be a(n) Trading Cards :

Sole Proprietor,
LLC,
Corporation or
Partnership.
After you decide and select your business entity, you need licensing.

✔ Biz License

Summerville Business Tax Registration ( Trading CardsBusiness License)
All businesses including home, online or mobile BUSINESS need a BUSINESS license because they are BUSINESSES.

✔ DBA Biz Name

A(n) Trading Cards business doing business under an assumed business name in Dorchester 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) Trading Cards business and you give it a trade name such as "Excellence Trading Cards & Associates". You will need to register an assumed business name certificate.

✔ Seller Permit

In SC Trading Cards 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 Trading Cards related items, such as food, materials, or merchandise.
Seller's Permit

✔ Federal EIN

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.

✔ State EIN

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

✔ L L C

Instead of filing a fictitious business name DBA Filing (about $49 plus state and legal newspaper publication fees) in Summerville, 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.

✔ Incorporation

If you do form an Retail Online llc or incorporate (about $49 plus state fees for most states) your Trading Cards 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 Summerville business name. In lieu of recording a Dorchester 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). .

Not Sure? Take Quiz!

Birmingham Rebecca 7/5/2021 10:49 PM .

What Licencses Trading Cards

Rebecca · Rebecca Trading Cards · Birmingham, AL

What licencses? (A trading card shop in Birmingham, AL)

Hi Rebecca, trading cards are taxable goods, so Alabama expects a sales tax license for Rebecca Trading Cards. Distributors will ask for it along with the resale certificate showing the buyer's Alabama sales tax account number. With six employees, you also need an EIN and state employer registration. Selling to other states online may add obligations past their thresholds.

Short answer: For a trading card shop in Birmingham, Alabama, the essentials are the sales tax license, a federal tax ID number (EIN) and a local business license, plus an LLC or other structure.

Buying and selling wholesale in Alabama

In Alabama, the seller's permit goes by the name sales tax license. To buy for resale without paying sales tax, you give the supplier an Alabama resale certificate. Wholesalers making no retail sales may get a state sales tax certificate of exemption (Form STE-1) instead of a sales tax license. Many Alabama cities and counties levy their own sales taxes, some administered locally, so local registration can be needed too.

Your Birmingham filing checklist

LLC – keeps your house and savings separate from the business's debts and contracts
Trade Name (assumed name) – registers the trade name on your sign, website and invoices
Federal tax ID number (EIN) – required for an LLC with partners or any business with employees
Sales tax license – required before the first taxable sale, including online, flea market and craft fair sales
Alabama resale certificate – keep a copy on file for every supplier you buy from tax-free
State employer ID – for state income tax withholding and unemployment insurance
Birmingham business license – needed even for home-based businesses, which may also need a home occupation permit

If you sell across state lines

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.
Tennessee: the sales and use tax certificate of registration. Tennessee's business tax classifies a business as wholesaler or retailer each year, depending on whether wholesale sales exceed half its total sales.
Illinois: the Certificate of Registration (sales tax), with an Illinois resale number. Illinois' sales tax is legally the Retailers' Occupation Tax, a tax on the seller; resellers get a resale number to buy tax-free.

Industry code: NAICS 451120 (Hobby, Toy, and Game Stores), 459120 under the 2022 update

Get your sales tax license filed · Start your LLC, DBA and EIN · Business licenses

RebeccaBirmingham, AL.

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