How To Get A Wholesale Dealers License
Learning about how to get a wholesale license can seem like a tricky thing. The truth of the matter is that there are just a few steps you need to follow when learning how to get a wholesale dealers license.
This license is going to be a vital part of your business and it doesn’t matter if you are running a retail operation, wholesale store or even if you belong to a corporation or sole proprietorship as these licenses are vital to all businesses success.
To begin this process, you will need to obtain your Federal Tax ID. This is often referred to as the Employment Identification Number. With this number, you collect taxes for the state you reside in and it will be an important part of paying your employees. This number can be obtained free from the IRS and done online.
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Now that you have your EIN, you will need to obtain a tax license from your local Department of Revenue and setup a sales tax account. Different states have different rules about this, so you will need to check with your local state. For some, the only requirement will be to have a single account for the state, while others will require a separate tax account for each location you operate.
When you are looking at how to get a whole sale license, you will find that you need to have a business name in place. This requires you obtain licensing in your state to operate under a name other than your own. This is called a Doing Business As (DBA) form and you will need to file the document with your local county clerk’s office.
Once you have these vital documents in place, you can contact your local state Department of Revenue. It will be through them that you will submit your application with any associated fees to obtain your dealers license. This will usually require you have these items in place, along with your full name, address and phone number to complete the form.
Something to keep in mind when you are looking at how to get a whole dealers license, is that there may be additional steps you have to take. For example, if you are looking at getting your wholesale license for a car dealership, you need to file with DMV and have them review the area for the proposed dealership. In some states, this will also include a course that has to be taken and additional fees.
Operating your own business can be rewarding and fun, when you handle it in a professional manner. That will begin with you obtaining your wholesale dealers license.