nayarx8 Posted January 11, 2006 Share Posted January 11, 2006 i just got my business name trademarked yesterday, and got a tax id # today. do i need to start charging sales tax on every order? Quote Link to comment Share on other sites More sharing options...
MichelleOH Posted January 11, 2006 Share Posted January 11, 2006 Yep:grin2: Quote Link to comment Share on other sites More sharing options...
sharyl55 Posted January 11, 2006 Share Posted January 11, 2006 You need to pay sales tax on every sale. In VA sales tax is 5%. I can't afford to absorb that so I do charge customers the tax on orders $5 and up. I ante up the tax dollars on orders under $5. I costed out my tarts and air fresheners to cover the tax. You should have gotten some info from the State Dept of Revenue or Taxation on how you report sales, submit the paperwork and pay them the sales tax. I have to pay it monthly but I think some states let you do it quarterly. Welcome to the wonderful world of paperwork. Quote Link to comment Share on other sites More sharing options...
Scented Posted January 11, 2006 Share Posted January 11, 2006 Yep, but if you elect not to, that'll cut into any of your profit when Uncle IRS decides it wants a piece. Quote Link to comment Share on other sites More sharing options...
sockmonkey Posted January 11, 2006 Share Posted January 11, 2006 Oh yeah, you need to start collecting taxes immediately. Now that you've got your tax ID, they'll be waiting for it. Whatever you don't collect taxes on is what YOU will be responsible for paying.I don't know why someone would offer to pay taxes on a small order of $5 or less. It's usually the opposite--sometimes a company will pick up the taxes on a large ticket item. It seems that paying the tax for orders under $5 would encourage people to buy small amounts just so they wouldn't have to pay tax. I wouldn't want to attract customers who purchase only $5 or less at a time. I know it all adds up, but to me, it's annoying and a waste of supplies. Heaven forbid, if they want to charge it too. Quote Link to comment Share on other sites More sharing options...
agoodsaid Posted January 11, 2006 Share Posted January 11, 2006 Hi all ~Been awhile There is a bit of a mind shift that might make the sales tax thing easier... change your wording (with yourself and with customers).You aren't 'charging' sales tax ... you're collecting it. Don't claim the responsibility as your own and customers won't ask you to absorb it.I personally don't like to muck around with change, so I price things accordingly... always rounding UP I don't absorb it, I just include it.Who I do I attract? People who appreciate the simplicity of it and don't care if they're paying a little more ... actually, I don't really think they think about it at all ;-)They'd probably be just as happy if I told them it was a tip!Oh yeah and doing fundraisers with non-profits makes this a non-issue <grin>.Andrea Quote Link to comment Share on other sites More sharing options...
SatinDucky Posted January 12, 2006 Share Posted January 12, 2006 Did you get it trademarked or registered? They're two completely different things... Quote Link to comment Share on other sites More sharing options...
Mnhorsemom Posted January 12, 2006 Share Posted January 12, 2006 Something else to look into...I am in Minnesota and not only do I have to pay sales tax on what I sell I also have to pay a use tax So, every time I buy something from Peaks or WSP or who ever and they don't charge me tax I have to keep track of that and pay 6.5% tax to MN. Now in my way of looking at it the state is getting paid twice since I have to pay tax on my materials when I buy and then also have to pay tax on what I sell that was made with the stuff I already paid tax on. Quote Link to comment Share on other sites More sharing options...
islandgirl Posted January 12, 2006 Share Posted January 12, 2006 If you have a sales tax ID# now... Then give that to your suppliers and you will be tax exempt from paying sales tax on the items you buy to make and use to resell your products.. You just charge tax when you sell your products.So then you will not be paying sales tax twice...HTH:o The use tax is only paid if you are not reselling your items from what I understand.. This is a explantion I found regarding USE TAX...***A use tax is a type of excise tax assessed upon tangible personal property purchased by a resident of the assessing state for use, storage or consumption of goods in that state (i.e., not for resale), regardless of where the purchase took place. The use tax is typically assessed at the same rate as the sales tax that would have been owed (if any) had the same goods been purchased in the state of residence. Quote Link to comment Share on other sites More sharing options...
nayarx8 Posted January 12, 2006 Author Share Posted January 12, 2006 i got it tradenamed. i was told that was best for my case. Quote Link to comment Share on other sites More sharing options...
SatinDucky Posted January 12, 2006 Share Posted January 12, 2006 i got it tradenamed. i was told that was best for my case.I'm curious. I've never heard of that before, could you explain what it is? In simple terms, I'm not business minded...LOL. Quote Link to comment Share on other sites More sharing options...
Bev Posted January 12, 2006 Share Posted January 12, 2006 I'm curious. I've never heard of that before, could you explain what it is? In simple terms, I'm not business minded...LOL.Got this explanation off the internet:A trade name, also known as a trading name or a business name, is the legal name of a business, or the name which a business trades under for commercial purposes. A trading name may also constitute a trademark or brand in certain circumstances. Quote Link to comment Share on other sites More sharing options...
SatinDucky Posted January 12, 2006 Share Posted January 12, 2006 Got this explanation off the internet:A trade name, also known as a trading name or a business name, is the legal name of a business, or the name which a business trades under for commercial purposes. A trading name may also constitute a trademark or brand in certain circumstances.Thanks Bev. That may just be another one of those things they don't do down here. I'll have to read up on it more. No point in asking the county about it, they already looked at me like I was nuts when I asked about DBA :tiptoe: Quote Link to comment Share on other sites More sharing options...
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