dc
depends on what your business is selling,lots of rules involved with a EIN # Your State will be different than your fed. Your state may require a license according to the product you buy and sell. Joint or single owners,etc. Check on your state website.
1 Answer
Bugs70
A drop shipper will require a EIN # for Irs. They will claim the items you got from them as sales and I am sure tax will be involved according to your state of residents. You must claim all items you receive as inventory and then the sales will be income. And this will be your state and fed. income on your business. Hope that helps some, go to IRS.gov ,research this for your self. You can apply on line for fed/ need to research your state Obligations. You will need to file a Schedule C along with your personal taxes. Good luck on your business. What are you selling?
| 13 years ago. Rating: 0 | |
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