Just wondering, if I pay sales tax at Sams when I purchase, that's it as far as sales tax, right?
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#2
Stinky Cat Vending
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Posted 20 November 2008 - 08:08 AM
That would be awesome, but no. Sales tax is imposed on the final sale to the consumer after everybody (especially you) has put their mark up in there. Check with your state about getting a sales tax account and other business licenses and requirements if you want to get everythnig legit. Once you get that, though, you will not need to pay sales tax at the Sam's (or where ever) on things you are reselling.
You may be able to get by as is, but my experience as a long time small business owner is: If you are ever down to a choice between feeding your family or paying your taxes... pay your taxes. All of them. On time and maintain detailed records. It can become a nightmare fast.
Ain't business fun?
You may be able to get by as is, but my experience as a long time small business owner is: If you are ever down to a choice between feeding your family or paying your taxes... pay your taxes. All of them. On time and maintain detailed records. It can become a nightmare fast.
Ain't business fun?
