[River jigin]

Hi,

I am starting to get a website made to sell my jigs and some softplastics and was wondering what I have to do to become a legit business and not get in trouble and fined. I have looked into it and I am a little lost. I tried to register online to be able to do texas taxes but said I had to be 18 and I am only 17 so that might hold me back. Maybe my dad has to register for me or something. I dont know if I have to register my business or what. Any advice would be helpfull.

Thanks,

Vince

[ghost]

First thing I would do is go to the State of Texas website. There is always endless information on the state website about starting or running a business. Second step would be to call the State office with any questions that you don't get answered from their website. Then give the IRS a call to find out what you need to do with them. That will get you started.

[JSC]

Check Earlier Posts ... several threads related to this very subject.
Search IRS or Excise Taxes ... For State information the advice given is what I would do.
Good Luck
JSC

[King Bait Co.]

Your best bet is and I did this. Call a accountant they can do all this it cost me $20. You may not even need a state tax number or federal. Example do you pay taxes when you buy something on line if its out of state no. In state sales you would need a stste tax id number. So call an accountant with your dads help. I can tell what I did and others can do the same but it could be entirly different where you live. To sum it up call the right people that do this every day an accountant. That way your eighteenth birthday isnt' spent in federal lock up blaming me because I told you something wrong.

[rodtrader]

The Federal Sport Fishing Excise Tax must be collected on any sale, whether it be an out of state or in-state sale. If you are manufacturing any piece of tackle used in the catching of game fish, or adding two or more components to an existing piece of tackle YOU ARE RESPONSIBLE for this tax. You need a business license from your state and a Federal Tax ID.

The IRS has been cracking down due to multiple complaints from manufacturers who do legally and rightly pay the tax. Believe me if you are making tackle and no paying the tax (and this is found out by other guys who do pay the tax) you will be turned in. Collecting the tax and filling out tax forms is not fun. Plus, if someone is not paying the tax that extra money goes to your bottom line, which it doesn't to someone paying the tax. The mantra soon becomes "If I have to pay the tax, then you are too".

American Sportfishing Association

This is why you need to contact a professional not take advice from anonymous guys on a website.
Feel free to contact me if you need anymore information or have other questions.


matt

[hawnjigs]

Yes, the IRS is serious about FET enforcement - although only a one person business I've already had 2 onsite visits in 10 years by IRS staff who flew to the Big Island from their Oahu home office. The reason for targeting small time recreational tackle businesses for a hefty 10% FET in addition to income tax eludes me, especially when I read that big commercial fishing operations that are destroying habitat and wiping out stocks are subsidized with fed $. Those of us selling retail can't just add on 10% tax to customers, and we end up paying the taxes for our supplies manufacturers. However, its NOMB if someone chooses to risk evading this tax.

[King Bait Co.]

I think us anonymos guys said to contact someone who knows how to do this. So if that advise is bad I am sorry for saying to conatct a professional tax person. So what makes you so unanonymos to have a seventeen year old contact a complete stranger for tax advise. When I clearly stated to have his dad help him. Because in most states he is still a minnor. I do pay taxes as I asume most of us here do. If your hurt'en a large company's like Berkely or Strike King profits. I would bet that guy has employes to keep up with them has a pretty good book keeper. Just because one tells on others doesn't make them honest.

[JSC]

"""This is why you need to contact a professional not take advice from anonymous guys on a website.
Feel free to contact me if you need anymore information or have other questions."""""

I was not going to say any thing about this comment until I thought a little longer about it .
I see no where in the past information that did not refer to " CHECKING " EVERY THING OUT !!!!

Off my soap box and shut up before I say something ....
JSC

[MTfishingrods]

"""This is why you need to contact a professional not take advice from anonymous guys on a website.
Feel free to contact me if you need anymore information or have other questions."""""


Sorry but I did get a chuckle out of this one.

[rodtrader]

Originally Posted by MTfishingrods

"""This is why you need to contact a professional not take advice from anonymous guys on a website.
Feel free to contact me if you need anymore information or have other questions."""""


Sorry but I did get a chuckle out of this one.

OK you got me. Bad wording on my part.

My website address is in my link and my email address is available through my profile. I clearly own and operate a successful business and have experience in establishing such. I'm obviously more than just an anonymous screen name with no identifiable credentials.
Although I clearly phrased it wrong I was suggesting that the young man should contact competent professional advice and reach out to those who are obviously in the business already, not just anonymous screen names on an internet forum.
My apologies for not writing a more clear response.