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Starting a(n) Ganeral Merchandise Business Licenses & Tax IDs

Hi, I'm Richard Sherlock How Do I Get A Retail Tax Number In Oregon Ganeral Merchandise How Do I Get A Retail Tax Number In Oregon Ebay Home Business I am planning on selling merchandise retail online, ebay and marketplaces through dropshipping. Retail Tax NumberFor your Oregon-based eBay home business, you'll need to obtain a retail tax number. This is also known as a seller's..., Richard Sherlock.

Ganeral Merchandise

✔ Biz Structure

You can choose to be a(n) Ganeral Merchandise :

Sole Proprietor,
LLC,
Corporation or
Partnership.
After you decide and select your business entity, you need licensing.

✔ Biz License

Newport Business Tax Registration ( Ganeral MerchandiseBusiness License)
All businesses including home, online or mobile BUSINESS need a BUSINESS license because they are BUSINESSES.

✔ DBA Biz Name

A(n) Ganeral Merchandise business using a fictitious business name in Lincoln County i.e. you are a business with a trade name other than the owner's legal (full name) name are required to get a(n) fictitious business name. For instance you open a(n) Ganeral Merchandise business and you name it "Superior Ganeral Merchandise Group". You will need to file a fictitious business name for that name.

✔ Seller Permit

In OR Ganeral Merchandise 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). You will need it if you sell or want to buy wholesale any Ganeral Merchandise related items, such as food, materials, or merchandise.
Seller's Permit

✔ Federal EIN

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.

✔ State EIN

In addition you will need a federal and a state EIN if you will hire employees. I.e., a OR Federal Tax Id Number ($29) and a(n) OR State Employer Tax Number

✔ L L C

Instead of filing a fictitious business name DBA Filing (about $49 plus state and legal newspaper publication fees) in Newport, Incorporate in OR or form a(n) OR LLC .

You have a choice to file a DBA or form an LLC or incorporate. If you will do business under your first and last legal name you will not need to get a fictitious business name.
Also note that even using your first and last name may not help you avoid filing a DBA if the name has a suffix such as "& sons" etc.

✔ Incorporation

If you do form an Ebay Home Business llc or incorporate (about $49 plus state fees for most states) your Ganeral Merchandise 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 Newport business name. In lieu of recording a Lincoln 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 OR or form an OR LLC (starts @ $49 plus state fee for most states & includes required documents such as bylaws for the corporation and Limited Liability operating agreement for the LLC). .

Here's an overview of setting up an online retail business in Oregon, focusing on the necessary steps and considerations:

Industry Snapshot

The e-commerce industry continues to boom, with global online retail sales projected to reach $6.3 trillion by 2024. Dropshipping, in particular, is gaining traction due to its low overhead costs. Speaking of costs, starting an online retail business can be surprisingly affordable - you might need as little as $500 to get off the ground, mainly for website hosting, basic inventory, and marketing. Equipment-wise, a reliable computer and stable internet connection are your primary tools.

Business Structure

Choosing the right business structure is crucial. Here are some options to consider:

Sole Proprietorship: Simplest form, but offers no personal liability protection

Limited Liability Company (LLC): Provides liability protection and tax flexibility

S Corporation: Offers liability protection and potential tax benefits for larger operations

An LLC is often a good choice for small online retailers, balancing simplicity with protection.

Employer Identification Number (EIN)

An EIN is a unique nine-digit number assigned by the IRS. It's used for:

Tax filing purposes

Opening business bank accounts

Hiring employees

Even if you're a sole proprietor, getting an EIN can help separate your personal and business finances.

Seller's Permit

A seller's permit allows you to collect sales tax on taxable items. You'll need one if:

You're selling physical products

Your products are subject to sales tax in Oregon

Keep in mind that Oregon doesn't have a general sales tax, but some local jurisdictions may have their own taxes.

Business Name Registration

Registering your business name is important for:

Brand protection

Legal compliance

How Do I Get A Retail Tax Number In Oregon Ebay Home Business

I am planning on selling merchandise retail online, ebay and marketplaces through dropshipping.

Establishing credibility with customers and suppliers

If you're using a name other than your personal name, you'll likely need to register it.

Special Permits

Depending on what you're selling, you might need additional permits. For example:

If selling food products, you may need food handling permits

For certain electronics, you might need specific certifications

Always research the regulations specific to your product line.

Online Marketplace Considerations

When selling on platforms like eBay:

You'll need to comply with their specific seller requirements

Consider their fee structures in your pricing strategy

Be aware of their policies on dropshipping

Remember, each platform has its own set of rules and best practices.

How Do I Get A Retail Tax Number In Oregon Ebay Home Business

I am planning on selling merchandise retail online, ebay and marketplaces through dropshipping.

Ready to Make Money in Oregon’s Online Retail World?

So, you want to sell products online—on eBay, other marketplaces, and through dropshipping. First off, *high-five* for jumping into the booming e-commerce biz! Fun fact: e-commerce sales in the U.S. hit over **$1 trillion in 2023**. Yep, trillion with a "T"! Dropshipping is a great way to avoid the need for a warehouse full of products, but you’ll still need a few things to legally operate and keep the tax man off your back.

Basic Gear for Your Business

Before we get into the technical stuff, here's a short list of essentials to get started:

Computer or Laptop (fast enough for multitasking like a pro)

Reliable Internet (dropshipping doesn’t work if your Wi-Fi goes on vacation)

Business funds (at least $500-$1,000 to kick things off)

Access to dropshipping platforms (AliExpress, SaleHoo, etc.)

And, of course, a little bit of entrepreneurial flair. You're basically the captain of your own ship now, so get ready to steer it like a boss!

What’s the Deal with an LLC?

First off, let’s talk LLC (Limited Liability Company). Do you *need* one? Not always, but it can make sense for protection and tax benefits.

Personal Liability Protection: An LLC separates your personal assets from your business. If your eBay hustle runs into trouble (hey, it happens), creditors can’t come after your house, car, or that rare vinyl collection you love.

Tax Flexibility: You can choose how you're taxed—either as a sole proprietorship (which is simpler) or as a corporation, which can sometimes save you on taxes if you’re making big bucks.

If you’re serious about your online business, an LLC is like having a safety net while you’re doing cartwheels in the e-commerce jungle.

Seller’s Permit: What It Is and Why You Need One

Now, to actually sell stuff and collect sales tax like a legit retailer, you’ll need a **Seller’s Permit**. Here’s why:

Sales Tax Collection: Oregon might be tax-friendly in many ways (wink, wink), but you’ll need a seller’s permit to collect and remit sales tax for products sold to customers in certain states. This especially applies if you're dropshipping to buyers outside Oregon.

Wholesale Purchases: A Seller’s Permit allows you to buy products from wholesalers without paying sales tax upfront—because no one likes paying extra if they don’t have to, right?

Bottom line: You can’t just go around selling stuff without being authorized to handle the tax side of things. So, a seller’s permit is crucial.

What’s an EIN, and Why Should You Care?

If your LLC is going to be hiring employees or if you just want to look fancy and separate your business from your personal life, you’ll need an **EIN (Employer Identification Number)**. Think of this as your business’s Social Security number.

Used for Filing Taxes: You’ll need an EIN to file your business taxes (you do plan to file those, right?).

Required for Hiring Employees: If your eBay empire grows and you want to bring in some help, you’ll need that EIN to pay them legally and handle payroll taxes.

Business Name Registration – Do You Need It?

If you plan on operating under a business name that’s anything other than your personal name, you’ll likely want to **register a business name**. You wouldn’t want someone else snagging “TotallyAwesomeDropshipping, LLC” while you’re sleeping, would you?

Creates a Professional Image: Having a unique business name can make you stand out and seem more trustworthy to buyers.

Protects Your Brand: Registering the name helps protect it from copycats or "brand squatters."

Plus, it’s a nice touch when you slap that name on invoices, receipts, or even custom packaging when your business blows up!

To S Corp or Not to S Corp?

An S Corp is like a fancier tax-status option for your LLC. The S Corp status could help reduce self-employment taxes if your profits really start to grow. But, if you’re just starting out, that might be jumping the gun a bit. Stick with the LLC for simplicity’s sake unless you’re aiming to have your eBay empire rival Amazon.

In Summary, You’ll Need:

LLC (optional, but highly recommended for protection)

Seller’s Permit (you can’t collect sales tax or buy wholesale without it)

EIN (if you’re hiring employees or want to keep personal and business taxes separate)

Business Name Registration (if you’re using anything other than your legal name)

How Do I Get A Retail Tax Number In Oregon Ebay Home Business

I am planning on selling merchandise retail online, ebay and marketplaces through dropshipping.

Not Sure? Take Quiz!

Newport Richard Sherlock 10/11/2024 3:30 AM .

How Do I Get A Retail Tax Number In Oregon Ganeral Merchandise

How Do I Get A Retail Tax Number In Oregon Ebay Home Business

I am planning on selling merchandise retail online, ebay and marketplaces through dropshipping.

Retail Tax Number

For your Oregon-based eBay home business, you'll need to obtain a retail tax number. This is also known as a seller's permit or sales tax permit. It allows you to collect and remit sales tax on taxable items sold through your online store.

Business Registration

Registering your business is a crucial step. This typically involves choosing a business structure (such as sole proprietorship, LLC, or corporation) and registering your business name. The specific requirements may vary depending on your chosen structure.

Additional Licenses and Permits

Depending on the nature of your eBay business, you may need to acquire additional licenses or permits:

Home occupation permit

General business license

Professional or occupational licenses (if selling specialized goods)

Employer Identification Number (EIN) if you plan to hire employees

Richard SherlockNewport, OR.

How Do I Get A Retail Tax Number In Oregon

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How Do I Get A Retail Tax Number In Oregon

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