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Starting a(n) Firearms Sales Business Licenses & Tax IDs |
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Hi, I'm How do I form and LLC in utah
I will sell firearms online and occasionally face to face. | , . |
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1. SELECT LLC, DBA, CORP
From sole propr., UT LLC, UT partneship or UT Corp.: Each requires an entity certificate filing.
2. TAX IDs - PERMITS
All
Retail Trade
businesses/entities need a business license and an EIN.
3.
UT STATE SALES TAX ID.
Selling/Buying wholesale or retail
requires a UT seller's permit.
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You can choose to be a(n) :
- Sole Proprietor,
- LLC,
- Corporation or
- Partnership.
After you decide and select your business entity, you need licensing.
Riverton 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) business using a fictitious business name in
Salt Lake 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)
business and you name it "Superior
Group". You will need to file a fictitious business name for that name.
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In addition note that in
UT
you may also need a seller's permit if you sell merchandise that is taxable.
(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.
In addition you will need a federal and a state EIN if you will hire employees.
I.e., a UT Federal Tax Id Number ($29) and a(n) UT State Employer Tax Number
Instead of filing a fictitious business name DBA Filing (about $49 plus state and legal newspaper publication fees) in
Riverton, Incorporate in UT or form a(n) UT LLC .
You have a choice to file a DBA or form an LLC or incorporate.
There is a cicrcumstance that you may not need to register a trade name and that is when you use your full name as a business name if you use your full legal name as a trade 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.
If you do form an Retail Trade llc or incorporate (about $49 plus state fees for most states) your 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 Riverton business name.
Instead of just registering your Salt Lake County assumed business name (our fee includes assumed business name registration and legal newspaper publication) you can choose to setup a corporation in
UT or form an UT 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). .
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