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Just starting an online clothing business in Virginia - I'm 20 year old, no idea what I'm doing - help?
Okay, so I've established a website, bought my domain name, gathered everything in that area to actually get the business going on the store front. Here's my dilemma; the items that I'll be getting for my business are in California, and they need a resellers permit to start purchasing the items. From what I've gathered, Virginia does not need/give reseller permits..? From what I've read, and from what I understand, all I need to do is get a business license. I already have my EIN and made a 'business' bank account today. Now what are the steps I need to take to get the business license? Also, is there any more license/permits you can think of that I need? I was told to file taxes quarterly - what exactly does that mean?? What am I supposed to keep up with? All my sales, or everything that I purchase/sell for the business? Any advice/answer would be so very helpful to me. Thanks!1 year ago - 3 answers
Forget the SCORE spam....... Here's your Virginia page:
So many questions.... Your business licence is with the city - call, surf or go to city hall for that, and they'll tell you what to do. Your resale number/licence is so that you can buy merchandise without paying taxes, because they are for resale. Then you sell it, collect sales tax and pay that tax to the state, quarterly. Those people are merciless, don't fool with them. If you sell wholesale to retailers then you are supposed to take a form with THEIR resale number to show that you didn't charge them tax, because it is for resale. The fact that you are online and may not collect sales tax is a grey area that I'm not really familiar with. You need an accountant - if you don't have one, go shopping for one. A business person without an accountant is a fool, unless the business is accounting. You are supposed to keep up with abolutely everything - sales, purchases, inventory, equipment and fixtures, and keep all receipts for at least 7 years. And keep it organized, too. I'd suggest Quickbooks. And go find an accountant, today.
Look at the website for the city/town that you live in and type in: "Business License." That should direct you to your next step in order to get a business license.
You need to get more information from professionals. Like an accountant, a business attorney.
Do some more research and see what you need to do. Good luck.
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