Fall September Special

How do I get a Tax/Resellers ID in Minnesota?

Free Member
dream_dealz
Posts: 11
Joined: 29 Jul 10
Karma: 
8 Aug 10 05:13:18 am
Hi,
I was wondering how Reseller Tax Id's work? If you register a business eg. LLC etc. would that be counted as your reseller ID? Every time i look at a good supplier, they need a tax ID so i will probably go register one but i want to know how the process works. any advice would be appreciated.
Thanks.

EDIT:this is in Minnesota

Full Member
marilou-salehoo
Posts: 81
Joined: 02 May 10
Karma: 
8 Aug 10 11:41:44 pm
You can apply online for a Tax/Resellers ID:

* Link hidden: Login to view

Just make sure your requirements are complete and up to date and you won't have any problems getting a Tax ID.

Please note there are many websites online that charge you for the form and the instructions. Do not pay anything. This information is given free by your local government.


Marilou

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Full Member
satya
Posts: 1778
Joined: 02 Jun 09
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9 Aug 10 12:06:55 am
Hi and welcome to SaleHoo, Dream_dealz!

A seller's permit is a certificate issued for a small fee by your state (if you live in Canada or the US) that says you are registered to collect sales tax. It is required to buy wholesale and sell retail or sell wholesale, in other words, it is required for retailers who buy or sell tangible, taxable items.

WHEN DO YOU NEED A SELLER’S PERMIT (SALES TAX ID)?

* If you live in the USA or Canada. Most states have a sales tax, but there are a couple that don’t. If you reside in one of these states just let the wholesaler know and they may have a different form or requirement for you to complete.
* If you sell online to make money (i.e. You sell more seriously than just getting rid of a few old things from around the house every now and then). You need a seller’s permit so you can charge and collect taxes, which you’ll pay to your state government later.
* If you want to purchase goods wholesale from a US supplier (and you are also based in the US), you need a seller’s permit to buy wholesale sales tax free.

WHAT DO YOU NEED TO GET A SELLER’S PERMIT (SALES TAX ID)?

Exactly what you need to get a sales tax ID varies by State. You may need:

* To be a business entity. This means you are a company or sole proprietor. Being a sole proprietor means you are working for yourself under your own name. If you are working for yourself (which is how most people get started selling online, just fill in your own name under your business trading name). Being a company means that you have registered a company under a trading name.

Find out more here: Link hidden: Login to view

* To have a Federal Tax ID number. Find out more here: Link hidden: Login to view

WHERE DO YOU GET YOUR SELLERS’ PERMIT (SALES TAX ID)?

Most states have an online form on their website these days, so do check out the link Marilou has provided.

If you need more information, you can also try and contact or visit your local County Clerk Office.

If you haven't already done so, download a copy of the SaleHoo User Manual, you may find it quite helpful -

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All the best!

PS - Don't forget to upload a picture to your profile.


Satya
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Free Member
dream_dealz
Posts: 11
Joined: 29 Jul 10
Karma: 
9 Aug 10 04:19:26 am
Thanks for all the info, I'll look into that stuff

Full Member
satya
Posts: 1778
Joined: 02 Jun 09
Karma: 
9 Aug 10 11:55:58 pm
Anytime! Let us know if we can help you with anything else.

Cheers!


Satya
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Free Member
pamelav
Posts: 2
Joined: 29 Aug 10
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1 Sep 10 11:18:29 pm
Regarding Tax Sellers ID for US. If i am based in Australia but want to deal with American companies to only sell in America do I still need a Tax Sellers ID?

Full Member
satya
Posts: 1778
Joined: 02 Jun 09
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1 Sep 10 11:36:25 pm
Regarding Tax Sellers ID for US. If I am based in Australia but want to deal with American companies to only sell in America do I still need a Tax Sellers ID?


You won’t need to provide a sales tax ID when you order from a US supplier. If the supplier requires this though to establish an account, usually you just need to provide something equivalent in your country - your ABN or GST registration.


Satya
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Site Admin
richellemonfort
Posts: 5220
Joined: 20 Oct 08
Karma: 
1 Sep 10 11:48:23 pm
Hi pamelav,

Satya's right, just prepare your ABN or GST registration number. In case you don't have one yet, you might find the tips and links useful in the guide below:

Link hidden: Login to view

Hope this helps :)


Richelle

Customer Support Manager
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