Do I need a license to sell on a website?

[BoldAsLove]

I am thinking about creating my own Tshirt-hell like site. Would I need any sort of licesnses to get this started?

 

[BoldAsLove]

?

 

[Xecuter]

Don't think so. Go for it.

 

[YayYay]

Legally, yes. You have to report everything you sell no matter B&M or internet. You might not pay sales for out of state sales but you still report it.

 

[badmouse]

Keep records of everything you sell and all your expenses. When it adds up to more than a couple hundred dollars, contact an accountant to get set up as a company.

You don't need anything until you start making money. Then, you need accurate records and you need to pay taxes.

Go for it - got any good shirt ideas yet?

 

[thomsbrain]

as mentioned, you'll need records of your expenses and income, and you'll need to file the appropriate forms for taxes... it's like Form S...something or other. anyway, it's a common form that is included in the tax booklets.

 

[thomsbrain]

BTW, if you're making a lot, you'll owe estimated tax payment throughout the year, not just one lump sum at the end. otherwise, they'll penalize you.

 

[BoldAsLove]

Originally posted by: badmouse
Keep records of everything you sell and all your expenses. When it adds up to more than a couple hundred dollars, contact an accountant to get set up as a company.

You don't need anything until you start making money. Then, you need accurate records and you need to pay taxes.

Go for it - got any good shirt ideas yet?

yea, ive got about 4 good ones. I just suck at design...

 

[BoldAsLove]

Originally posted by: thomsbrain
BTW, if you're making a lot, you'll owe estimated tax payment throughout the year, not just one lump sum at the end. otherwise, they'll penalize you.

I still dont really understand. Do I need to charge sales tax within CA? Or what? How do they know Ive sold so much? And how do I file these payments throughout the year?

 

[drinkmorejava]

sounds like you should just talk to an accountant. If you don't plan on really selling much, just keep records of everything and ignore the rest.

 

[BoldAsLove]

Originally posted by: drinkmorejava
sounds like you should just talk to an accountant. If you don't plan on really selling much, just keep records of everything and ignore the rest.

so I just need to keep records of everything I sell, and then just report the tax at the end of the year?