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We have an employee who will be attending the Illinois Deer Classic in Peoria the last weekend in March. I'm relatively new at my position but it appears we need a sellers permit and sales tax number. Can you help please? We sell seed.

A: Hi Gladys, yes, you need a seller's permit, which by the way it is a sales tax number. The licenses you need for your selling seeds business are the following: First, seeds when sold at the retail level are taxable. I.e,, you need to charge sales tax to sell it and also need a seller's permit to buy it wholesale. Additionally, since you are a business, you need a "business," license because all businesses need one in Glastonbury City. Furthermore, since you are using an assumed business name, namely "Seed To Be Glad" you need to record it with the clerk as a DBA Doing Business As, LLC Limited Liability Co, or set up a corporation. Hiring seeds employees requires both a federal ein and a state ein. Finally, all businesses must select a business legal tax structure such as an LLC, sole proprietorship or corporation. When you file your business name with a corporation, you in effect also choose the legal structure as a corporation. The significance of it is that depending your legal structure, your tax liability and civil and criminal liability also changes. For example, sole proprietorships owners are personally liable for all wrongs and taxes whereas an LLC limits your personal and business liability.
 
 
 
06033 Seed
We have an employee who will be attending the Illinois Deer Classic in Peoria the last weekend in March. I'm relatively new at my position but it appears we need a sellers permit and sales tax number. Can you help please? We sell seed.

A: Hi Gladys, yes, you need a seller's permit, which by the way it is a sales tax number. The licenses you need for your selling seeds business are the following: First, seeds when sold at the retail level are taxable. I.e,, you need to charge sales tax to sell it and also need a seller's permit to buy it wholesale. Additionally, since you are a business, you need a "business," license because all businesses need one in Glastonbury City. Furthermore, since you are using an assumed business name, namely "Seed To Be Glad" you need to record it with the clerk as a DBA Doing Business As, LLC Limited Liability Co, or set up a corporation. Hiring seeds employees requires both a federal ein and a state ein. Finally, all businesses must select a business legal tax structure such as an LLC, sole proprietorship or corporation. When you file your business name with a corporation, you in effect also choose the legal structure as a corporation. The significance of it is that depending your legal structure, your tax liability and civil and criminal liability also changes. For example, sole proprietorships owners are personally liable for all wrongs and taxes whereas an LLC limits your personal and business liability.
06033 Seed
 



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