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Best For Selling Jewelry A LLC Corporation Or DBA Jewelry Store DBA




Required Registrations for Jewelry Store.




A(n) Jewelry Store Business Tax Registration
(Business License)

Also callled an occupational license,or business permit.)

A Federal Tax ID
(EIN)
(You can use it as a sole owner to open a bank account instead of using your SS#. Employers, Independent Contractors, LLCs, Partnerships, and Corporations are required to obtain it.)

Get Jewelry Store Licenses




Here's How to Set Up and Get an LLC, DBA, Licenses & Tax IDs


IL | 287066 | Wednesday, June 9, 2021
Best For Selling Jewelry A LLC Corporation Or DBA? Hi my name is StJodi Polen sh c. I am opening a new Jewelry Store, the business name is Pep ROCK CANDY Si Mar Nexas and I reside in Deerfield, IL.
What are the steps for Jewelry Store Jewelry Store legal registration? I'm wondering what licensing do I need for Jewelry Store. I'm wanting to since I am interested in open my own business Jewelry Store so I thought that Best For Selling Jewelry A LLC Corporation Or DBA? Must a Jewelry Store Jewelry Store in Deerfield, Illinois have to reflect on perhaps an LLC Formation Permits and Tax IDs Required To Start my Own New Business 60015, :
Will Have Workers Jewelry Store in Deerfield,   Lake County, Illinois Opening a business in Deerfield?

All Jewelry Store Jewelry Store business ( including home mobile and online business and regardless of the type of business) need to get a(n) in Deerfield businesses, MUST Obtain a(n) Business License business license.
Setting up or forming a limited liability company (LLC) online is simple, easy and affordable, inexpensive process for under $60 plus state fees.
An LLC is a corporate structure and you will not be held personally liable for the company debts or liabilities because, similar to a corporation, owners have limited liability for the debts and actions of the LLC. Limited liability companies (“LLCs”) are hybrid entities that blend pass-through taxation of partnerships and corporations and preferable because they allow you to save on taxes.
For example, the “New LLC Law” that became effective in 2018 and the 20% reduction in business taxes for small businesses earning less than $157,500.
LLCs were first created in Wyoming in 1987 and have become the preferred entities because LLCs are not bound by the same rigid rules of corporations and require no formalities such as corporate minutes to hold unless you filed an IRS form and you treat your LLC as a "C" corporation.
All LLCs need an IRS EIN after setting the LLC up, and a Responsible Person as well s keeping track of members and LLCs financial transactions and a filing of Form 5472. Foreign persons will have to report individually the transactions. Form 5472 is an information return for tax purposes and after an LLC is liquidated, it must file a final Form 5472 as well as when adding members.I will buy beads wholesale and make necklaces in addition to buying accessories and clothing wholesale to sell to customers in all 50 states from my home and possible website. An LLC can help you avoid personal liability for debts or wrongs committed during business transactions. For example, you become an LLC instead of a sole proprietor -- you become a sole proprietor by filing a DBA and getting a business license -- someone slips and falls in your store, which is under the LLC, the plaintiff can only sue the LLC not you personally. So suppose you have $50 dollars in the LLC account and no other assets, the plaintiff can only get that $50, instead of going after your house or automobile or personal accounts. Bottom line, you avoid paying for the liability from your personal assets. This is because the LLC is a separate entity and it can sue or be sued for its actions. The LLC is a corporate entity that affords a lot of protections for you. LLC vs. Corporation An LLC and a corporation are both corporate entities. They both protect your personal assets from outside creditors, and judgment holders. The advantage that the LLC has over the corporation is that it is more flexible. For example, you can use it as a sole proprietor, partnership or corporation and still get the same protection as a corporate entity. Another LLC advantage vs. a corporation is the paperwork: you need much less with an LLC. DBA DBA stands for “doing business as”. This means that, for example, if you are a small business owner and you name your business “Ultra A1 Clothing Fashions,” that name is a “doing business as,” name. The DBA is a fictitious business name also called an assumed business name or fictitious firm name. When you hear, you need a DBA filing; it means that you need to register your business name with a fictitious business name certificate. That filing may require legal newspaper publication, as well as filing proof of that publication. On this site, as of 8/22/12, the price to file a DBA starts at $119 and it includes all of the above: namely, the filing, the publication, the proof, and notarization, if required. How to Form An LLC To form an LLC, simply click on the order button, submit your LLC information such as the LLC name and registered agent, as well as the principal address of the LLC, select the LLC filing for your state, and we will form an LLC for you and prepare an LLC operating agreement for you to execute. You first need to select the business structure among a sole proprietor, a partnership, Corporation or LLC for your jewelry business. Regardless of which one you choose, you will need a general business license. When you start a jewelry business is to register for sales tax because jewelry is taxable merchandise. The quiz above will guide you to obtain it with the rest of the licenses. The resale number is a tax exemption document that you can get here online for a small fee that includes the government fee. The number enables you to buy materials from wholesale suppliers at wholesale prices which means that you will not pay tax when you buy them but you need to charge tax when you sell them. Depending on the rules of the wholesaler, you may have to buy a minimum amount of merchandise before they will let you get it tax free. If you decide to hire help/employees to help you with jewelry sales, you will need a federal tax id number and a state employer number. You also need a federal tax ID if you are a jewelry business partnership, an independent contractor, a corporation or an LLC. You can also obtain a federal tax ID as a jewelry business sole proprietor an use it as a business tax ID. Finally, even jewelry business sole owner/proprietors can form an LLC or incorporate, in which case, they will not need ot file a DBA.

Fees

Obtain It Online Now!

Jewelry Store
Making hand made jewelry at home and selling only locally from home and at farmers markets within Pierce county.

A Demigod's Dilemma: Starting A Jewelry Business

In the bustling metropolis of Athens (not Greece, but Athens, Georgia), Hercules, the mighty son of Zeus, had grown tired of his heroic feats and decided to venture into the realm of entrepreneurship. Eagerly, he sought to set up a Jewelry Store: "Herc's Gems & Jewels." While pacing the streets, musing about his new venture, he ran into Athena, the Goddess of Wisdom, holding a coffee from "Olympian Brews." "Hercules! Of all the places..." Athena exclaimed. "Athena! Just the goddess I needed. Do you know anything about starting a business?" Hercules said. "Indeed, I do. What do you need?" she replied, taking a sip from her divine cappuccino.

The Ownership Structure Dilemma

"First off, what’s a good ownership structure?" Hercules pondered. Athena cleared her throat, "Well, Herc, here are your options:"
  • Sole Owner/Proprietor: This means you're the only boss. Simple, but all responsibility falls on you.
  • Partnership: You and a partner share the business. More hands on deck but make sure you trust your partner!
  • LLC: This gives you protection from personal liability. If someone sues your business, they can't come after your personal assets.
  • Corporation: More formal than an LLC and often used by larger companies.
"Is the LLC the same as the S-Corp thing I've heard about?" Hercules scratched his head. "Not exactly, dear Hercules. You can choose to file your LLC and treat it as an "S" Corp for tax benefits, such as benefiting from the Qualified Business Income (QBI) 20% federal tax deduction. It’s a bit complicated but can be advantageous."

Deciphering DBAs and LLCs

"And what about this DBA thing?" Athena chuckled, "DBA stands for 'Doing Business As'. If your business name is different from your legal name, like 'Herc's Gems & Jewels' instead of 'Hercules, Son of Zeus,' you need a DBA. But if you file as an LLC and your LLC's name is the same as your business name, you don't need a DBA."

Licensing and Certification Insights

"What licenses do I need?" Hercules asked. "You'll need a General Business License for starters. Here are some other essentials:"
  • State Sales Tax ID (Seller's Permit): This allows you to buy or sell tangible items. It can sometimes be referred to as a Resale Certificate.
  • Federal EIN and State EIN: If you’re hiring workers. It’s like a social security number, but for your business.
"Any special permits or certifications for the state?" Athena responded, "It varies by state. You might need occupational certification permits depending on the nature of your business. Always best to check with local authorities." "Thanks, Athena! How can I ever repay you?" Athena smiled, "Just name a special gem after me in your store, and we're even. Best of luck, Hercules!" And with that, Hercules embarked on his new venture, with wisdom by his side.

STARTING A JEWELRY STORE

60015. Lake County Best For Selling Jewelry A LLC Corporation Or DBA own online home business. Additonally, I was wondering where to get a Deerfield Jewelry Store business license. Is my own home business subject to self employement tax? Also wondered where to get a Deerfield home occupation license. How do I go about Illinois 60015 starting own business from home? Jewelry Store

Where Do I Obtain a(n) IL tax ID number Tax IDs DBA LLC or Corporation to Start a Business for : starting my own IL Jewelry Store home business online. Deerfield, Lake County  , IL 60015 .
Jewelry Store Jewelry Store

Jewelry Store Jewelry Store
If you are a partnership means you are a business entity with multiple owners and thus you will need a dba and a federal ID.
You need a sellers permit because your service includes parts and or materials you need to use to provide your service which are taxable.
Any businesses that sell prepared food need a sellers license.

If you use your family name as a trade name you may not need to register an assumed business name .
However if you have an ending that says that there more owners you need to file a fictitious name.
If you are a professional such as an architect or doctor you also need a professional license from the state.
Also you can simply use a bank with low interest rate to fund your enterprise.
You need a merchant account which is simply a checking account used to process credit card transactions.
Online business that sell merchandise online need to collect taxes and that requires a state ID.
You can use a business plan to start a business but you do not really need it.
A domain name is indispensible these days of the e-commerce revolution.
Get a state of the art website to sell your services or products.
After you obtain a website you will also need a shopping cart to sell your services.
Do not forget that your business cards are a good form of advertising.
In most cases where you starting your own small company you will not need a small business consultant.

You can choose to be a(n) Jewelry Store :

  • Sole Proprietor,
  • LLC,
  • Corporation or
  • Partnership.
    After you decide and select your business entity, you need licensing.



Deerfield Business Tax Registration ( Business License)
All businesses including home, online or mobile BUSINESS need a BUSINESS license because they are BUSINESSES.



A(n) Jewelry Store business using a fictitious business name in Lake County i.e. you are a business that uses a DBA doing business as trade name to trade that is other than the full legal (first and last -- full name) name of a sole proprietor or a name other than the LLC or Corporation business name need a(n) fictitious business name.   For instance you open a(n) Jewelry Store business and you name it "Superior Jewelry Store Group". You will need to file a fictitious business name for that name.

In Illinois you need a resale ID ( AKA seller's permit) if you selling touchable items.  (A.K.A state id, wholesale, resale, reseller certificate, about $39 for most states).
Seller's Permit



Note: All businesses need a federal tax ID number except sole proprietors that are not employers and are not independent contractors.
An independent contractor is a self employed business person that receives more than $600 per year from anyone of his or her clients.
IRS rule: The client must issue a 1099 form to the independent contractor and the independent contractor must have a federal tax ID. However, even sole owners may obtain a federal ID and use it as a business tax ID instead of using their own social security number as a business tax ID number.
However, all other licenses that apply to sole proprietors as discussed here are requited regardless of getting a federal tax ID number.


In addition you will need a federal and a state EIN if you will hire employees. I.e., a IL Federal Tax Id Number ($29)  and a(n) IL  State Employer Tax Number  


Instead of filing a fictitious business name DBA Filing (about $49 plus state and legal newspaper publication fees) in Deerfield, Incorporate in IL  or form a(n) IL LLC


Filing a DBA is not required if you will set up an LLC or form a Corporation. If you will do business under your first and last legal name you will not need to get a fictitious business name.
Also note that even using your first and last name may not help you avoid filing a DBA if the name has a suffix such as "& sons" etc.



If you do form an Jewelry Store llc or incorporate (about $49 plus state fees for most states) your Jewelry Store business instead of just filing a fictitious business name (dba), that insurs that you don't have personal liability for debts and civile liabililty arising from your business dealings and you will not have to record the Deerfield business name. In lieu of recording a Lake County trade company name (our filing service fee includes trade name registration and newspaper legal publication for 4 weeks) you can also form a corporation in Illinois or form an IL LLC (starts @ $49 plus state fee for most states & includes bylaws for the corporation and Limited Liability operating agreement for the LLC that is required to open a business bank account). .

About Your Business Type

Jewelry Store


Q: i am a jewelry designer. I sell handmade jewelry online and in some stores (retail and wholesale) in all 50 states from my home and overseas. Home-based online trade shows flea market events which have vendors in-home party based selling several different styles of purses custom-made jewelry. Can I obtain a seller's permit?




"Starting a jewelry business is like a rollercoaster ride. You never know if you're going up or down, but damn, it's exciting!"

THE EXCITEMENT OF STARTING A JEWELRY BUSINESS

Starting a jewelry business (NAICS CODE: 339911 - Jewelry (except Costume) Manufacturing) can be an exhilarating experience as you turn your passion for creating beautiful accessories into a profitable venture. According to a report by IBISWorld, the jewelry manufacturing industry generates around $5 billion in revenue and employs over 29,000 people in the United States. With such impressive stats, it's no wonder why so many people are eager to start their own jewelry business.

SELLER'S PERMIT AND BUSINESS OWNERSHIP TYPE

In general, all jewelry businesses need a business license and an EIN. If your jewelry business sells wholesale or wants to buy wholesale, you need a seller's permit. Additionally, businesses that sell retail items, such as materials, merchandise, tangible items, food, and even some services, need a seller's permit because such items are subject to sales tax. Before obtaining any of the above licenses, a jewelry business must select a type of ownership, such as Sole Proprietorship, Partnership, Limited Liability Company (LLC), or Corporation.

As a side note, an LLC has more benefits than a C corp or a sole proprietorship because it provides personal asset protection while still maintaining the simplicity and flexibility of a sole proprietorship.

REGISTERING YOUR BUSINESS NAME

Because your jewelry business name (Jewelry Jive) is a trade name, you need to register with one of the certificates and ownership registrations, such as a DBA Certificate, LLC, or Corp. Certificate. This is because the law wants to protect consumers from shady companies that hide their full legal names behind business names to defraud the public.

LICENSE AND PERMIT FEES

As noted earlier, all businesses need a jewelry business license, which can range from $10 to under $100 annually, depending on the location. However, in some upscale cities and communities, the annual tax can reach $500 or more. The rationale behind this is to ensure safety, nuisance, sanitary, and aesthetic reasons are met.

Home-based businesses also need to comply with zoning rules, such as no signs, employees, deliveries, noise, hazards, etc. Meanwhile, brick and mortar businesses need certificates of occupancy for various requirements such as exit signs, fire extinguishers, fire sprinklers, fire detectors, fire alerts, special trash cans, employee rights posters, emergency exit doors and signs, etc.

So, to answer your question, as a jewelry business owner, you will need to obtain a seller's permit if you plan to sell wholesale or retail, register your business name, and choose a type of ownership. Additionally, you'll need to apply for a business license and pay the associated fees, which can vary depending on your location. Just remember to focus on your final goal and enjoy the rollercoaster ride of starting a jewelry business!

Q: I sell products via ecommerce. I need a seller's permit, but wondering what other licenses I should have. I would like to purchase jewelry wholesale and resale it. What do I need? Could I do it under my husband's LLC and just get the Seller's Permit?

A: In addition to a seller's permit, you may also need a business license, depending on the state or local regulations. You may also need a federal tax ID number (EIN) if you plan to hire employees or operate as a corporation. If you plan to sell jewelry, you may also need to obtain a permit or licenses. As for using your husband's LLC, it would depend on whether the LLC is set up to include your business activities and whether it is legal in your state.

Q: I sell homemade jewelry and just need a simple form to sell at craft fairs. I need information on obtaining a business license to buy wholesale items, jewelry, purses, perfume, etc., out of my car or home.

A: The type of license you need will depend on your state and local regulations. In many cases, you will need a business license, as well as a seller's permit if you plan to sell taxable items. If you plan to purchase wholesale items, you may also need a resale certificate to avoid paying sales tax on the items you purchase.

Q: Not sure what license I need. Hi, I want to start a home business selling homemade jewelry and kids custom shirts.

A: Depending on your state and local regulations, you may need a business license, as well as a seller's permit if you plan to sell taxable items. You may also need to obtain a permit or license


STARTING A JEWELRY STORE

Starting A Gifts Novelty and Jewelry

Starting a Handmade jewelry Business

Home-based online trade shows flea market events which have vendors in-home party based selling several different styles of purses custom-made jewelry. Can I obtain a seller's permit?


A: Yes, you can obtain all licenses here on our site, including the seller's permit.

What Do I Need To Start Small Online Jewelry Biz I hand make jewelry all unique I would like to do vendor selling at farmers markets Etsy, online outlets, Facebook market, Instagram pop up shops ?

Hi Catrice, for a Jewelry Selling Online and as a vendor selling at farmers markets Etsy, online outlets, Facebook market, Instagram pop up shops and on you can get away with just a business license(name could be "vendor's" license), and a seller's permit, and any temporary permit for the event you're vending at as well as a temporary seller's permit to sell when you are out of your own state because the out of state govt want you to collect sales tax when you sell there and remit it to them!.

But if you want to get more fancy with a business name, like the one you mentioned: "Gems By Catz Jewelry," you will need to file a DBA LLC or corporation to register the name.


If you have a large client, like a corporate client or anyone else one client that pays you more than $600 per year, you will need an EIN so you can be issued a 1099 independent contractor form to report your income to the IRS.

If you want to get even more fancy and set up as an LLC etc., read more below to find out how.

If you're looking to start your own jewelry business, you'll need to choose a business structure that suits your style. Whether you're a sole proprietor or a fancy-pants corporation, you'll need a general business license and a seller's permit to get started.

Here's a jewelry joke for you:

Why did the jewelry store owner go to jail?
Because they stole the hearts of all their customers!

And here's a jewelry quote by Elizabeth Taylor:
"Big girls need big diamonds."

Answer:

Starting an online jewelry and accessories store requires licenses and permits, but don't let the paperwork scare you off. Once you've got that sorted, you'll be ready to slay the ecommerce game.

Building a business takes hard work, determination, and a can-do attitude. But you're a boss babe/boss bro who's got what it takes to succeed. Don't let setbacks bring you down, just keep hustling and grinding.

When you nail your jewelry and accessories game, you'll be looking and feeling fabulous, like a straight-up queen/king. It's all about mixing and matching, taking risks, and finding the perfect combination.

You're about to become a total boss, making bank, stacking cash, and crushing goals. So get your hustle on and let's get this bread!

In short, starting an online jewelry and accessories store requires some paperwork and a lot of hard work, but with the right attitude and style, you can become a total boss babe/boss bro who's killing it in the ecommerce game. So don't let anyone dim your shine, go out there and hustle like a boss!

Starting an online jewelry and accessories store is like adding some bling to your life, but with extra hustle and paperwork. You'll need to secure your licenses and permits, but once you've got that sorted, you'll be ready to slay the ecommerce game.

Building your own biz ain't for the faint of heart, but you're a total badass, so I know you're up for the challenge. When things get tough, just remember that nothing worth having comes easy, and that grind will pay off in the end.

Get ready to be a jewelry and accessories boss, a straight-up boss babe/boss bro. You're gonna be making bank, stacking cash, and crushing goals like nobody's business. So get your hustle on and let's get this bread!


Oh, I've got just the bling for you, my friend! Let's dive into the world of jewelry business licenses with some motivational and funny vibes.

First things first, jewelry is a timeless classic that has adorned us humans for centuries. From gemstones to shells, it's all about the bling bling, baby! And let's not forget the power of fashion jewelry, the ultimate statement piece for any outfit.

But don't let the paperwork bring you down! You can start a jewelry store with as little as $5,000, or you can go big and invest up to $100,000. It all depends on your location and the sparkle you're going for.

And let's not forget the competition! With over 20 million retail businesses in the USA, you'll need to find your niche and stand out like a diamond in the rough. But fear not, my friend, you've got the bling, the drive, and the savvy to make it work.

So go ahead, buy that merchandise from China, sell it for a profit, and make your mark on the jewelry world. And remember, as long as you satisfy the consumer needs with better quality and lower expenses, you'll be raking in that cash like a boss!

In short, starting a jewelry business requires some paperwork, some bling, and a lot of drive. But with the right attitude, you can shine bright like a diamond and make your mark on the retail world. So go out there, sparkle like the star you are, and let's make that bling bling!

Q: i am a jewelry designer. I sell handmade jewelry online and in some stores (retail and wholesale) in all 50 states from my home and overseas. Home-based online trade shows flea market events which have vendors in-home party based selling several different styles of purses custom-made jewelry. Can I obtain a seller's permit?



STARTING A JEWELRY STORE

Starting A Gifts Novelty and Jewelry

Starting a Handmade jewelry Business

 Not Sure? Take Short Quiz


Starting a Handmade jewelry BusinessStarting a Jewelry Business


Related Articles:





47887
Since your service includes parts you will need a sellers license to buy the without paying taxes and include them in the invoice with sales tax charged separately from your service.   Yes you should obtain a business checking and or credit card for your business. Banks require you file a fictitious business name certificate before opening a business account. Independent cotnractors need a business license as well as a federal tax id number especially when working for companies.     Get a domain name that is your business name or briefly describes your type of business. Keep in mind that most business are contacted online so you will need to set up a website as soon as possible. Most services and products can be sold online and that requires a shopping cart. A business consultant may help you but we recommend that you read info on this website or find articles about how to run your business. Business cards are good but remember most people find info online these days.
Jewelry Store Permit Licenses & Tax IDs You Need To Start Your Own Business Deerfield Business License 60015 Jewelry Store Business Plan Template Illinois Business License Jewelry Store Lake County DBA Fictitious Business Name



You can start your DEERFIELD business with just $6200 or $625544 that depends on your budget. Starting your business in
  BANNOCKBURN LAKE DEERFIELD, 60015 calls for some numbers: it has about 27224
residents, though only about 9719 families in this zip code area of the state of Illinois.
In addition, consider getting a(n) 224/847 telephone area code to increase reachability and
and identifiability. Nevertheless, you will need a place to set up your business
and a place to stay or you can also buy a house (about $326700 avergage value) , which
you can use as a home based business as well. Your physical address in DEERFIELD will be
your business address. For Instance, your business address could be 6587 DEERFIELD Hwy/Blvd or 66TH Street/Ave or
DEERFIELD, Illinois 60015. You can use a 60015 P.O. Box address as your as
your business mailing address. E.g. P.O Box 52545 DEERFIELD,Illinois 60015
. At any rate, in 448 area you have to consider the demographics before
starting any type of business. Briefly, there are about 25544, caucasians,
623 latinos, and 200 African Americans in the 60015 zipcode area. Another consideration
is targeting your prospects income level to advertise for your new business. Each family here makes
about $101814 per family and has about 2.97 persons per household. Considering weather conditions, take note
that the elevation is 587 feet, and you are in 6 time zone.
For example, you are reading this on 11/26/2024 1:56:30 PM CST.





Jewelry Store Jewelry Store Illinois



Chris 11/18/2024 9:24 PM :


We are a property preservation company in the Cincinnati and Dayton Ohio areas
Ohio  .
Chris Ohio.
atomickitn 11/18/2024 6:27 AM :




I would like to know what I need to provide if I want to start a handyman business in the state of AZ
Arizona  .
atomickitn Arizona.
Mike 11/18/2024 6:26 AM :




I was just wondering what all it takes to have a food turck in oklahoma. Can you just set one up anywere or only certian places? could a preson go from small town to small town and just park and serve?
Oklahoma  .
Mike Oklahoma.
60015 Deerfield Jewelry Store
LLC (Limited Liability Company) FAQs:


Q: Is setting up an LLC a better choice than filing a DBA?

A: If the business market projection is a target fot the company you should consider forming an LLC. For example if the assumed business name is . deJodi Polentch ROCK CANDYCo. this name as well as any other name is an assumed business name and it must be recorded as a DBA Doing Business As name which also requires a fee to be recorded.

A trade registration is requred but if the owner wants to use the business name exclusively he or she cannot because anyone else can also file the same trade name. Nor does the trade name registration protects the owner from personal legal or financial liability as forming a limited liability company (LLC) . Our recommendation that since you need to pay a fee to register the business name, simply form a limited liability company (LLC) for a similar fee and get both corporate status and protection for the name as well as personal liabilities.

So, for instance, if someone slips and falls in your business premises, they can sue you personally if you are not a limited liability company (LLC).

Note that once you incorporate no one can register the limited liability company (LLC) name at the state level.

Q: Can I apply by phone and set up a limited liability company (LLC)?.
A: You can apply by phone but the best way is to just fill out our online limited liability company (LLC) form.

Q: I already have a tax ID as a sole proprietor can I use it for the LLC I am forming now?
A: Forming a new type of entity of a business constitutes change of status for that business and that requires you to get new licenses and tax IDs under your name.

Q: Do I need to file a DBA if I form an LLC?
A: If you form an LLC and you do business as the LLC name, you don't need a DBA. For example, your LLC name is "Ultra Super LLC," and your business name is "Ultra Super LLC," you don't need to file a DBA.

Q: When do I have to change my limited liability company (LLC)?
A: You may have to get a new tax ID number if your status as a business changes. For example if you change from sole owner to a partnership or from LLC to corporation as well as when you buy a new business you need to get a new tax ID under your business name or individual name.

Q: How do I apply for an llc tax ID number?
A: You can apply for a tax ID number here online. Simple click on the order button - fill out the application - and submit it so we can obtain the ID for you .

Q: What are the benefits of havin a DUNS number?
A: You can use it to your benefit by providing favorable business information to make it more likely to get a loan from a lender bank.

Q: Do I need to pay sales tax to the state as an LLC?
A: Paying sales tax depends on your state. For example in Oregon you dont need to pay sales tax but you still need a resale certificate to buy from other states wholesale products.

Steilacoom Jen Thursday, September 7, 2023 10:42:00 PM .
Set Up Doing Business As Jewelry Store Jewelry Store
Making hand made jewelry at home and selling only locally from home and at farmers markets within Pierce county.

A Demigod's Dilemma: Starting A Jewelry Business

In the bustling metropolis of Athens (not Greece, but Athens, Georgia), Hercules, the mighty son of Zeus, had grown tired of his heroic feats and decided to venture into the realm of entrepreneurship. Eagerly, he sought to set up a Jewelry Store: "Herc's Gems & Jewels." While pacing the streets, musing about his new venture, he ran into Athena, the Goddess of Wisdom, holding a coffee from "Olympian Brews." "Hercules! Of all the places..." Athena exclaimed. "Athena! Just the goddess I needed. Do you know anything about starting a business?" Hercules said. "Indeed, I do. What do you need?" she replied, taking a sip from her divine cappuccino.

The Ownership Structure Dilemma

"First off, what’s a good ownership structure?" Hercules pondered. Athena cleared her throat, "Well, Herc, here are your options:"
  • Sole Owner/Proprietor: This means you're the only boss. Simple, but all responsibility falls on you.
  • Partnership: You and a partner share the business. More hands on deck but make sure you trust your partner!
  • LLC: This gives you protection from personal liability. If someone sues your business, they can't come after your personal assets.
  • Corporation: More formal than an LLC and often used by larger companies.
"Is the LLC the same as the S-Corp thing I've heard about?" Hercules scratched his head. "Not exactly, dear Hercules. You can choose to file your LLC and treat it as an "S" Corp for tax benefits, such as benefiting from the Qualified Business Income (QBI) 20% federal tax deduction. It’s a bit complicated but can be advantageous."

Deciphering DBAs and LLCs

"And what about this DBA thing?" Athena chuckled, "DBA stands for 'Doing Business As'. If your business name is different from your legal name, like 'Herc's Gems & Jewels' instead of 'Hercules, Son of Zeus,' you need a DBA. But if you file as an LLC and your LLC's name is the same as your business name, you don't need a DBA."

Licensing and Certification Insights

"What licenses do I need?" Hercules asked. "You'll need a General Business License for starters. Here are some other essentials:"
  • State Sales Tax ID (Seller's Permit): This allows you to buy or sell tangible items. It can sometimes be referred to as a Resale Certificate.
  • Federal EIN and State EIN: If you’re hiring workers. It’s like a social security number, but for your business.
"Any special permits or certifications for the state?" Athena responded, "It varies by state. You might need occupational certification permits depending on the nature of your business. Always best to check with local authorities." "Thanks, Athena! How can I ever repay you?" Athena smiled, "Just name a special gem after me in your store, and we're even. Best of luck, Hercules!" And with that, Hercules embarked on his new venture, with wisdom by his side.

STARTING A JEWELRY STORE

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