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State & fed tax id
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Topic: State & fed tax id (Read 1357 times)
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State & fed tax id
«
on:
March 14, 2005, 07:52:04 am »
If I am just starting out, do I need a State tax & Federal tax ID? I live in NY.
Thanks!!
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Metalman
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State & fed tax id
«
Reply #1 on:
March 14, 2005, 09:25:14 am »
Every state has different rules and laws regarding Tax ID #s.
The big factor for me was that I was making art and work for resale so I was in business. If I wanted to buy properly and not pay tax on items and materials that I was reselling, I needed the tax id #. To some degree, this depends on the level of your activity and who you wish to buy from.
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Metalman
AKA: Kurt Madison
Master Instructor Emeritus - Art Clay Silver
azurefire
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State & fed tax id
«
Reply #2 on:
March 17, 2005, 12:12:36 am »
As a sole proprietor you generally need a federal tax id number only if you have employees. Otherwise your SSN is your tax id.
If you do much selling, you'll probably need a sales tax license. You should check with your state tax office, and perhaps local ones. It's different in every state.
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