[Jewelry making - Article 00022] - Re: [Orchid] Ins and outs of Wholesaling

[Betty Jane Leeper]

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>     Hello Everyone, I will begin to sell my jewelry wholesale off my
>     website next month.  I was wondering if anyone knows how to check
>     tax id #'s to make sure they are valid.

    As long as you have the tax ID numbers and the corresponding
    invoices showing those amounts, you do not need to "prove" the ID
    numbers are valid. Check with the comptroller's office in your state
    to find out what the amount is for reporting purposes. You have to
    show this information on your Federal Tax return at the end of the
    year. 

>     I'm also guessing that because a sale is "wholesale" no tax is
>     paid to the state." 

    Again, rules vary from state to state. If you are selling from your
    website to a user who is out of state, then you do not need to
    collect sales tax. If you are selling to someone who resides in your
    state, and that person has no plans to resell the jewelry, then you
    need to collect sales tax. 

    Generally speaking, wholesale is where you are selling a sizeable
    quantity to another retailer who will then make the final sale to the
    end user, who is ultimately responsible for paying the sales tax. If
    you are just making a few pieces here and there and selling them from
    a website, you really should be collecting sales tax if the purchaser
    resides in your state. 

Betty


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