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| Starting a(n) general store Business Licenses & Tax IDs |
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Hi, I'm John To Get Obtain Ar Business License Online Business
General Store
| Drop shipping is a retail fulfillment method in which a business doesn't keep the products it sells in stock. when a drop shipping retailer sells a product, it purchases the item directly from a third party that ships the product directly to a customer. |
, John. |
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| | | | | general store
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You can choose to be a(n) General Store :
- Sole Proprietor,
- LLC,
- Corporation or
- Partnership.
After you decide and select your business entity, you need licensing.
Fort Smith Business Tax Registration (
Business License)
All businesses including home, online or mobile BUSINESS need a BUSINESS license because they are BUSINESSES.
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A(n) General Store business doing business under an assumed business name in
Sebastian County
i.e. you are a business that uses a DBA doing business as trade name to trade that is other than the full legal (first and last -- full name) name of a sole proprietor or a name other than the LLC or Corporation business name need a(n)
assumed business name certificate.
E.g. you venture into a(n)
General Store
business and you give it a trade name such as "Excellence
General Store
& Associates". You will need to register an assumed business name certificate.
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In
AR
you need a resale ID ( AKA seller's permit) if you selling touchable items.
(A.K.A state id, wholesale, resale,
reseller certificate, about $39 for most states).
Seller's Permit
Note: All businesses need a federal tax ID number except sole proprietors that are not employers and are not independent contractors.
An independent contractor is a self employed business person that receives more than $600 per year from anyone of his or her clients.
IRS rule: The client must issue a 1099 form to the independent contractor and the independent contractor must have a federal tax ID.
However, even sole owners may obtain a federal ID and use it as a business tax ID instead of using their own social security number as a
business tax ID number.
However, all other licenses that apply to sole proprietors as discussed here are requited regardless of getting
a federal tax ID number.
Also keep in mind that employers will need to obtain a federal EIN and a State EIN tax identificattion number.
I.e., a AR Federal Tax Id Number ($29) and a(n) AR State Employer Tax Number
Instead of filing a fictitious business name DBA Filing (about $49 plus state and legal newspaper publication fees) in
Fort Smith, Incorporate in AR or form a(n) AR LLC .
Filing a DBA is not required if you will set up an LLC or form a Corporation.
If you will do business under your first and last legal name you will not need to get a fictitious business name.
Using any language that connotes additional owners in the name of the business makes filing a fictitious business name mandatory.
If you do form an Internet Business llc or incorporate (about $49 plus state fees for most states) your General Store business instead of just filing a fictitious business name (dba),
that insurs that you don't have personal liability for debts and civile liabililty arising from your business dealings and you will not have to record the Fort Smith business name.
In lieu of recording a Sebastian County trade company name (our filing service fee includes trade name registration and newspaper legal publication for 4 weeks) you can also form a corporation in
AR or form an AR LLC (starts @ $49 plus state fee for most states & includes bylaws for the corporation and Limited Liability operating agreement for the LLC that is required to open a business bank account). .
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