The Bellevue Entrepreneur Alliance Message Board › The Bellevue Entrepreneur Meetup Group Discussion Forum › Why should I get sales tax vendor ID number? (Reseller tax id)

Why should I get sales tax vendor ID number? (Reseller tax id)

Nashib Umer
Posted May 24, 2010 7:32 AM
user 12156924
Hicksville, NY
Post #: 10
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You will need to collect Sales Tax if you are selling a product or offering a service that is taxable. The process of getting a Sales Tax ID is called obtaining a sales tax exemption certificate.

Your state tax id number authorizes you to collect sales tax on your taxable sales. Once you receive your state tax id number, you are considered to be in business even if you never make a sale or never open the doors of your establishment. It is therefore important that you file your sales tax returns on time, even if you did not have any taxable sales during the reporting period, to avoid being subject to penalties for not filing
Source http://www.infotaxsqu...
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