You can choose to be a(n) tire repair :
Wilmot Business Tax Registration ( Business License) All businesses including home, online or mobile BUSINESS need a BUSINESS license because they are BUSINESSES.
Register your business structure (LLC, Corporation, etc.) with your state to establish your company as a legal entity.
Obtain a general business license from cities/counties where you operate. Allows you to legally conduct business.
Apply for a sales tax permit if selling used tires to charge and remit sales tax. Keeps you compliant.
Obtain an EIN from the IRS for tax and employment purposes. Required for business tax filing.
Register your DBA name if different than your personal name. Prevents branding confusion.
Ensure tire shop meets codes and is safe.
Obtain garage liability insurance to cover risks with tire installation, repair, disposal, etc.
For proper storage and disposal of used tires. Helps protect the environment.
Follow any state tire resale, storage, disposal, and fire safety regulations.
Confirm used tire sales comply with zoning laws for the location.
Obtain a general business license where you operate. Allows you to legally conduct business.
Obtain an EIN for tax and employment purposes. Required for business tax filing.
It was a sunny day in Businessville when Cleopatra, the once-great queen of Egypt, decided she wanted to start a new venture: a Used Tire Shop. "I've conquered empires, surely I can conquer the business world," she mused. But there was one problem - she had no idea how to start a business in the modern world.
As she pondered her next move, she bumped into none other than the wise and witty Benjamin Franklin. "Ah, Cleo! What brings you to Businessville?" he asked with a twinkle in his eye.
"Dear Ben, I wish to start a Used Tire Shop, but I'm lost in the maze of business registration," Cleopatra sighed.
Benjamin stroked his chin thoughtfully. "First things first, Cleo. You need to decide on an ownership structure. Let's break it down:"
"Now, if you choose an LLC and the business name is the same as the LLC name, you won't need a DBA. But if you're a sole proprietor or in a partnership and don't file an LLC, you'll need a DBA, especially if your business name isn't your full legal name," Ben explained.
Cleopatra's eyes sparkled with curiosity. "What about the 'S' corp and the Qualified Business Income (QBI) 20% federal tax deduction?"
Benjamin chuckled, "Ah, always thinking ahead! If you file an LLC, you can choose to treat it as an 'S' corp for tax purposes. This can allow you to benefit from the QBI deduction."
"There are other licenses you might need," Ben continued:
"Is the sales tax ID and seller's permit the same as the Resale Certificate?" Cleopatra inquired.
"Good question! The sales tax ID or seller's permit allows you to collect tax from customers. The Resale Certificate lets you buy products without paying tax, intending to resell them. They're related but serve different purposes," Ben clarified.
"Lastly, depending on your state or the nature of your business, you might need specific state or occupational certification permits. Always check local regulations," Ben advised.
With newfound clarity, Cleopatra beamed, "Thank you, Benjamin! With your guidance, the Sod Tire Shop will be the jewel of Businessville!"
And with a wink and a nod, Benjamin Franklin disappeared into the annals of history, leaving Cleopatra ready to conquer the business world.