You’ll probably need to obtain a reseller permit if you intend to launch a business in Washington state that involves reselling goods. How long does it take to obtain one, though? The response is based on a number of variables.
You must first choose the organization to whom you should submit an application for a reseller permit. Depending on the kind of business you’re creating and the goods you want to sell, this can change in Washington state. For instance, you must submit an application to the Washington State Department of Revenue if you plan to sell goods that are subject to sales tax. You must submit an application to the Washington State Liquor and Cannabis Board if you plan to sell alcohol.
The length of time it takes for your reseller permission application to be processed depends depend on which agency you need to submit it to. Generally, you should give your application processing at least two weeks. It might take longer, though, depending on how complicated your application is and whether any further paperwork is needed.
It’s also crucial to keep in mind that, depending on the type of business you’re beginning, you might need to give more documents or information. For instance, you’ll need to present identification and your Social Security number if you’re beginning a single proprietorship. You will need to provide additional papers pertaining to your business structure if you are forming a corporation or LLC.
Let’s move on to the questions that are connected now. Is a business license required to sell online? The state and municipal legislation in the area where you are located will determine the response. No matter if they sell locally or online, all firms in Washington State are obliged to obtain a business license. So, do you have to pay taxes when you sell things again? Yes, is the response. You must collect and send sales tax to the state of Washington if you are reselling goods that are subject to sales tax.
What exactly does Costco acquire for resale? Businesses have access to a scheme called “purchase for resale” that enables them to shop at Costco without paying sales tax. Your reseller permit number and the completion of a form showing that you are making purchases for resale are required in order to participate. Finally, what does a Washington state certificate of existence mean? A certificate of existence, which is another name for a certificate of good standing, is a document that attests to the fact that your company is registered and in good standing with the state of Washington. It is frequently necessary when making loan applications or signing contracts with other firms.
In conclusion, depending on the agency you need to apply to and any other papers needed, getting a reseller permit in Washington state can take at least two weeks. Every firm in the state of Washington must get a business license, and if you are reselling goods that are subject to sales tax, you must also collect and remit the applicable sales tax. Costco offers a program called “purchase for resale,” and a certificate of existence attests to the fact that your company is in good standing with the state of Washington.