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View Full Version : FEIN tax number
UNcommonScents
12-09-2005, 06:43 PM
Does anyone have one? What was the procedure to acquire it? Cost?
I am thinking of obtaining one if it is not too costly, so that I am charged
sales tax on the wholesale price of products rather than the retail price.
Also, I assume it will make things easier when holding a booth at gift and
craft shows as well.
Insights?
--Kitt
I am thinking of obtaining one if it is not too costly, so that I am charged
sales tax on the wholesale price of products rather than the retail price.
Also, I assume it will make things easier when holding a booth at gift and
craft shows as well.
Insights?
--Kitt
SandyMilton
12-09-2005, 07:41 PM
I think you are looking for astate sales & use tax ID number. I will PM you a link to check out the tax info for your state :)
iluvsoycandles
12-10-2005, 05:23 AM
I know in my county, when inquired about a tax id number for myself it was $5 and the app took about 10 min to fill out and get my number. I plan on using this for fundraisers, so i dont charge the organization tax. Hopefully, it is as easy in your state. smileys/smiley2.gif
SandyMilton
12-10-2005, 05:33 AM
I absolutely love the freedom that having a sales tax ID gives me. In Florida, I applied online and it was free.
Where I find it helps me the most is with those votives. Since I use my votives mostly for promotional purposes (I do sell some, but not many at this point), I only pay the tax on the wholesale case cost and not the retail cost. That's a nice savings, especially over time! I just keep tabs of how much I collect in sales tax (including what I "charge myself" for wholesale) and pop that into a secondary account I have, then when it comes time to remit sales tax to the state, it's all there in the one account and off it goes!Edited by: dreamakr36
Where I find it helps me the most is with those votives. Since I use my votives mostly for promotional purposes (I do sell some, but not many at this point), I only pay the tax on the wholesale case cost and not the retail cost. That's a nice savings, especially over time! I just keep tabs of how much I collect in sales tax (including what I "charge myself" for wholesale) and pop that into a secondary account I have, then when it comes time to remit sales tax to the state, it's all there in the one account and off it goes!Edited by: dreamakr36
