Guest guest Posted March 31, 2004 Report Share Posted March 31, 2004 : Get ahold of an accountant or call the Small Business Administration. Come to think of it, try their website. www.sba.gov There's also SCORE/ACE which is the the Society(?) of Retired Executives/ Active Executives. They give free advice. Considering your level of involvement I'd try and run it by an accountant you know and see what is the worst that could happen if you were found out. Most small craft shows don't even ask to see your NYS Tax info. If you're just doing a few shows over the summer I personally wouldn't bother. The only place I get hassled for a tax # up there is the large flea markets like Stormville. Naturally if you start doing big shows it'll be a different story. There is paperwork andf fees involved, not to mention organization fees. And good old NYS doesn't operate their sales tax reporting on the calendar year. If you're late reporting they zap you with a $50 fee! Granted the IRS has gone after kids in the midwest who operate worm farms and such but I always say there's bigger fish to fry than me. To organize, a lawyer will charge you hunderds when you can do most, if not all of it online for free. The one catch is you typically have to name a lawyer of record, so if you know one, give him/her a call and let them know you used their name to organize. Pam is a lawyer, right?? I was chatting with her at last year's gathering. Here it is: www.nys-permits.org and www.tax.nys.ny.us They'll send ya a pub 20 (guide for new business) and pub 750-p (sales tax vendor) forms. Check the phone book too. You might be pick them up in town. Best of luck! Bob > Hi guys, > I am thinking about getting a business license (?). I suppose once > I start doing craft shows and stuff, I will have to get one. > Besides, I do sell a lot of other crafts besides soap (well, I sort > of suck at the soap making part anyway LOL). I tried looking at tax > stuff on the NYS website and it made my head spin. Can someone just > point me in the right direction, tell me what I need to fill out and > stuff LOL. > > Thanks, > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted March 31, 2004 Report Share Posted March 31, 2004 In a message dated 3/31/04 11:11:40 PM Eastern Standard Time, soaperbob@... writes: > There is paperwork andf fees involved, not to mention organization fees. > And > good old NYS doesn't operate their sales tax reporting on the calendar year. > If > you're late reporting they zap you with a $50 fee! > Hi --you can call the Onondaga County Clerk's ofc and they will tell you what to do. Their # is:435-2235. Last I knew, it was about $30-35 to file for a " dba " . They will have you go in and file an application. They will search your name (if you decide to have a business name as opposed to using your own name-and will want to know what form your business will take-like sole proprietorship, corporation, etc.) They'll also give you a handout that lists other steps to take-like getting your tax ID #, resale certificate etc. Bob-your conference sounded great! I can't imagine selling 6000 bars of soap a month! :-) Carol J Quote Link to comment Share on other sites More sharing options...
Guest guest Posted April 1, 2004 Report Share Posted April 1, 2004 Thanks Carol and Bob. I know my mom had to do all this stuff. Se did a lot of craft shows and BIG ones. Plus she was much more crafty than I could ever be LOL. I tried asking my dad what she had to do but typical him, he was absolutely no help at all LOL. If I could even get ahold of ome of the stuff she had to do, that would be a lot easier!! I'll call the clerk's office, that seems to be a good place to start. DOn't know any lawyers-phooey. None of them in my family, I'll have to marry one I don't think I'll get caught now but I don't want to either! I guess it depends on how many and what kind of shows I want to do, I don't plan on doing anything big though..... Bob, heck with selling 6000 bars of soap in a wek, I couldn't possible MAKE 6000 bars of soap for something like that!! Quote Link to comment Share on other sites More sharing options...
Guest guest Posted April 1, 2004 Report Share Posted April 1, 2004 : No, it was 6,000 a month and he cuts about 400 on an average day. Still it's pretty insane volume. He's got a great product and there's not much competition so it's a no brainer - more of a production problem than a distribution riddle. You might consider an LLC. More protection than a sole propietorship and you can net out any earnings or losses against your regular income. I know as a student that's likely nill right now but even though it's technically a corporation there's typically no Common Stock (unless you have investors) or Corporate Net Income tax which in other corporate structures run you $75 a quarter. What's your business name going to be? Bob > Thanks Carol and Bob. I know my mom had to do all this stuff. Se > did a lot of craft shows and BIG ones. Plus she was much more > crafty than I could ever be LOL. I tried asking my dad what she had > to do but typical him, he was absolutely no help at all LOL. If I > could even get ahold of ome of the stuff she had to do, that would > be a lot easier!! > > I'll call the clerk's office, that seems to be a good place to > start. DOn't know any lawyers-phooey. None of them in my family, > I'll have to marry one I don't think I'll get caught now but I > don't want to either! I guess it depends on how many and what kind > of shows I want to do, I don't plan on doing anything big though..... > > Bob, heck with selling 6000 bars of soap in a wek, I couldn't > possible MAKE 6000 bars of soap for something like that!! > > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted April 1, 2004 Report Share Posted April 1, 2004 > You might consider an LLC. More protection than a sole What's an LLC? This is so confusing LOL, definately not my strong point. I haven't decided on a business name yet. I am terrible with things like that. I don't want something that sounds cheesy or stupid. Quote Link to comment Share on other sites More sharing options...
Guest guest Posted April 1, 2004 Report Share Posted April 1, 2004 Hi I'm no pro at this either but I believe LLC stands for Limited Liability Corporation. From what I know that's the BEST way to go but I'm still set up as a Sole Proprietor. I " think " that if you're an LLC that customers can't go after your personal assets if a lawsuit evolves over something. I may be wrong. Of course, there's more involved in setting up an LLC versus a sole propietorship. I supposed if I ever get any " bigger " that's the route I would go. Re: business license > You might consider an LLC. More protection than a sole What's an LLC? This is so confusing LOL, definately not my strong point. I haven't decided on a business name yet. I am terrible with things like that. I don't want something that sounds cheesy or stupid. Quote Link to comment Share on other sites More sharing options...
Guest guest Posted April 1, 2004 Report Share Posted April 1, 2004 : An LLC is a Limited Liability Corporation. In a nutshell there's Sole Properitorship (you're at personal risk with this one should you get sued,) Subchapter " S " which is a step up and the bank account is supposed to be netted out at year end and profits are netted into your personal return. A Subchapter " C " is the same structure that large corporations like General Motors use. Corporate stock, stringent reporting requirements, paperwork, etc. LLC's are growing in popluarity because the protection is there and the paperwork and fees are not. You see it everywhere these days...on the side of trucks where you'd think because of the name and size of the companies involved would use a different structure, but it's pretty simple and therefore often the popluar choice these days. Is my SU Management degree showing? Actually this stuff I picked up years later along the way and any laywer with corporate experience would probably have a good laugh at my seat of the pants description and give you the finer points, but on a basic level, that's pretty much it. My business is an LLC and compared to the days when I was a C corp, I can tell you an LLC is MUCH easier. I know a guy that had a business years ago doing computer stuff when I still resided in Syracuse. He registered his business as IDK Consulting as when he went to file the paperwork he was asked what the name would be and he replied " I don't know. " So the clerk said, " ahhh, IDK Computers, huh? " Bob Six Harmony Soap, LLC > > You might consider an LLC. More protection than a sole > > What's an LLC? This is so confusing LOL, definately not my strong > point. > > I haven't decided on a business name yet. I am terrible with things > like that. I don't want something that sounds cheesy or stupid. > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted April 2, 2004 Report Share Posted April 2, 2004 Hmm, that looks like something I will have to look into. Or, I could just quit while I'm ahead!!! When I have some time I'll have to make some calls and sit down to think of a name for myself. It'll probably have to do with my pets or something-I put a tiny hh picture on all my labels already. I know-I'm such a dork. Lets hope I don't turn into a crazy cat lady or something. Quote Link to comment Share on other sites More sharing options...
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