Tackleunderground
Tackleunderground > General Discussions > The Docks > irs and taxes
» Who's Chatting!
Members In Chat: 1
jawjacker
Enter the Chatroom!
» September 2008
S M T W T F S
31 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 1234
» Today's Birthdays
None
» Stats
Members: 7,991
Threads: 13,373
Posts: 101,948
Top Poster: nova (1,737)
Welcome to our newest member, bassingaround
Reply
 
Thread Tools
  #11 (permalink)  
Old May 20th, 2008
JSC's Avatar
JSC JSC is offline
TU Club Member
 
Join Date: Nov 2007
Location: Freeport, FL .. Mouth Of Choctawhatchee River
Posts: 358
Re: irs and taxes

Apologies accepted ...

JSC
Reply With Quote

  #12 (permalink)  
Old May 21st, 2008
BLT BLT is offline
 
Join Date: Apr 2007
Location: Lancaster, Pa
Posts: 81
Re: irs and taxes

I make tackle in Pa., but do not sell it in this state, I sell in De. at the beach. Now I am faced with HAVING to get a state retail number because some wholesalers/distributers will not deal with you if you don't. An excise tax number and federal tax number are not good enough with some places. Pa. is even cracking down hard on craft shows and such. If you sell at any show in Pa., (tackle or not) better have the retail #!!
Being a small time tackle maker, (around 10,000 rigs a year) I don't think it's that big of a deal keeping records for the 10% tax.
Reply With Quote
  #13 (permalink)  
Old May 21st, 2008
JSC's Avatar
JSC JSC is offline
TU Club Member
 
Join Date: Nov 2007
Location: Freeport, FL .. Mouth Of Choctawhatchee River
Posts: 358
Re: irs and taxes

(Preface this by saying I am a retired Fishing Tackle Distributor Salesman ... aprox 30 + years also Retail/Wholesale Bait & Tackle, Manufacturer in the past and again now of Artificial Lures and Saltwater Rigs .. 10 years Air Force and a lot of other stuff .. After a previous post I don't want to be ANONYMOUS) Regardless to what I say below I STRONGLY suggest that you check with the City, County and State appropriate agencies .... and of course the IRS.
(The following applied to Alabama, Florida, Georgia and Mississippi (from what I found from other Salesmen in other than these same states it was the same or some variance)).
The first things I HAD to do when opening a NEW RETAIL Account was to see their License and their CITY/ STATE/COUNTY Sales Tax certificate I would either write their number down or get a photo copy ... Whoever is selling to the Retailer HAD TO HAVE this information on record before you could make a sale to them. (Regardless to where you are in the Supply Chain if you are selling to the RETAILER this information had to be on record). FET (Federal Excise Tax) falls on the Manufacturer. AGAIN check with the IRS for clarification of YOUR situation.
OK if I understand this right ... You are Manufacturing in one State ... selling RETAIL in another State and You want to do business with Distributors/Wholesalers ?? Again as I said above my first move to be legal would be to get a license, City/County/State Sales Tax Number (most states you only need one for the state you are doing business in as they collect it from the Retailers and send the % back to the County/City) ... CHECK with the IRS to get your FET ID Number as well as to find out EXACTLY how this applies to You (I think that their is a special provision for those selling at retail).
Now if You are trying to Sell TO the Distributor/Wholesaler their must be some law in that State that requires this .. I have not heard of such a thing when purchasing from a Manufacturer ....
I think I have gone far enough with this BOOK ... I hope I have not confused You as I know this must be about as clear as Mud.
CHECK WITH THE AGENCIES THAT ARE APPLICABLE TO YOU otherwise You are risking it all.
Belive Me that regarless to the size of the business the same rules apply.
Good Luck
JSC
Reply With Quote
  #14 (permalink)  
Old May 21st, 2008
BLT BLT is offline
 
Join Date: Apr 2007
Location: Lancaster, Pa
Posts: 81
Re: irs and taxes

I am considered a manufacturer by the Feds, not a retail business, already checked.
Reply With Quote
  #15 (permalink)  
Old May 21st, 2008
King Bait Co.'s Avatar
TU Club Member
 
Join Date: Feb 2008
Location: Nebraska
Posts: 434
Re: irs and taxes

JSC I think you summed it all up. I think we have all forgot about river jigin. I hope you make a million your fist year. Just find someone to get all your tax stuff taken care of for you so its done right.
Reply With Quote
  #16 (permalink)  
Old May 21st, 2008
JSC's Avatar
JSC JSC is offline
TU Club Member
 
Join Date: Nov 2007
Location: Freeport, FL .. Mouth Of Choctawhatchee River
Posts: 358
Re: irs and taxes

KBC
I too hope "river jigin" makes a bundle ... all I try to make is enough to keep me fishing.
JSC
Reply With Quote
  #17 (permalink)  
Old May 24th, 2008
TU Club Member
 
Join Date: Jan 2007
Location: San Antonio, Texas
Posts: 26
Re: irs and taxes

Hi thanks for all the replies. I have been away from computer cause trying to finish up school. Well I got a IRS EIN and tried to get a texas tax number but couldnt because I wasnt 18. Me and my dad are going to go the tax office that deals with the state to get that fixed up.
If I am just selling on the internet do I have to get a business license? If I do where and how do I get one? Do I just get one for the state or what?

Thanks,

Vince
Reply With Quote
  #18 (permalink)  
Old May 24th, 2008
MDC MDC is offline
TU Club Member
 
Join Date: Jan 2007
Location: N Central Tx
Posts: 292
Re: irs and taxes

Start here
Texas Governor Rick Perry - Guide To Starting a Business
Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

» Search Forums
OR
Custom Search
TU Supply Shop
TU Football Pool
Please rate us! 10=BEST 1=WORST

Powered by vBadvanced CMPS v3.0.1

All times are GMT -4. The time now is 06:45 AM.


Powered by vBulletin Version 3.7.0
Copyright ©2000 - 2008, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.2.0 All other images, content & coding Copyright © 2002 - 2006 Jerry Goodwin Inc. All rights reserved.
The materials displayed on the Tackleunderground Web site, including without limitation all editorial materials, informational text, photographs, illustrations, artwork and other graphic materials, and names, logos, trademarks and service marks, are the property of Jerry Goodwin Inc. or its parent companies, subsidiaries, divisions, affiliates or licensors and are protected by copyright, trademark and other intellectual property laws. You agree not to reproduce, retransmit, distribute, disseminate, sell, publish, broadcast or circulate any such material to anyone without the express prior written consent of Jerry Goodwin Inc.
Locations of visitors to this page