[Jewelry making - Article 00378] - Re: [Orchid] setting wholesale minimums

[Rick Copeland]

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>     Why should I need a sales tax number? I pay sales taxes on those
>     goods that I use just like everyone else.

    If nothing else to save the cost of the tax which is 7% in my area. 
    7% more I can put into my pocket when I sell my work wholesale. 
    Also, some wholesalers will not do business with you unless you have
    a tax license. One example is my local lapidary and jewelry supplier.
     Their retail prices are near what the mail order places charge and
    then they give me an extra 10% off and don't charge me sales tax
    because I have a tax license.  It ends up being cheaper than if I
    would buy from the mail order places and pay shipping. 

    A sales tax license can get you into some wholesale shows.  Also,
    having a tax license legitimizes you as a business.  When you file
    with the IRS, especially if you are reporting a loss, the IRS
    sometimes likes to check if you are running a legitimate business and
    not just using a shell to write off expenses... 

Just my US$.02 worth...

Rick Copeland -- Silversmith
rick.copeland AT Covad.net
home.covad.net/~rcopeland
Colorado Springs, Colorado


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