Do I need a business permit or license to sell on ebay? What kind of tax ID number # will I need?
Oct 05, 2009
in
Small Business Merchant Accounts
I was going to start doing business under my own name on ebay, I just open a merchant account and now I am trying to figure out if I need a business permit or license if I am doing business under my own name. The only thing I’m trying to figure out is what kind of tax ID # I need to file taxes? Also after I begin to make money off ebay, If I decide to buy a house, a car, ect. (if they require proof of income) how will I provide that to them if need?
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2 comments
Tweedle Dee on October 5, 2009 at 11:07 am
You don’t a permit or license to sell on ebay but if you’re a legitimate business then yes you should get them so you can buy wholesale and not pay sales tax. You would get a federal id tax # and a local sales tax #. As for proof of income; you’d need to keep accurate records on your business transactions and keep business accounts separate from personal accounts and have bank statements and income tax statements to prove your income.
Auctionwally on October 5, 2009 at 11:07 am
You do not need a license or permit to sell your own items on eBay, but your city or State may require an auctioneers license to sell consignments.
You can use your social security # for tax purposes.
If your concerned about getting a home loan, they will most likely go by your bank deposit records. I’ve dealt with this issue and as a self employed person, that’s what they look for.
It doesn’t matter so much where your earned income comes from, but they want to see deposit record.
I’ve written a few articles on how to get started on eBay, check my source site below and click on the label eBay.
Good Luck.