If you live in Indiana and are considering opening an online store, you might be wondering if you require a seller’s permission. If you intend to sell tangible goods or taxable services in the state of Indiana, the answer is yes.
An Indiana Department of Revenue license called a seller’s permit, often known as a sales tax permit or sales tax ID, enables you to charge customers sales tax. The majority of goods and services in Indiana are subject to a 7% sales tax.
You must register your business with the Indiana Department of Revenue in order to be granted a seller’s permit in Indiana. You can submit a paper application or do it online using the Indiana Taxpayer Information Management Engine.
Is Etsy Income Required to Be Reported?
You must declare your income on your tax return if you sell items on Etsy. Sales revenue as well as any fees or commissions paid to Etsy are included in this. If your income falls under a particular range, Etsy will send you a Form 1099-K.
If you want to sell items on Etsy, you don’t absolutely need a tax ID number, but you will need to give Etsy your Social Security number or another form of taxpayer identification number for tax purposes.
Each item you offer on Etsy is subject to a $0.20 listing fee, and a 5% transaction fee is added to the final sale price (including shipping). Additional charges could also apply for extra services, including promoted listings. How Can I Form an LLC in Indiana?
You must submit Articles of Organization to the Indiana Secretary of State’s office in order to establish an LLC there. This can be done by mail or online. A seller’s permission or zoning permit, for example, may be required, and you must also acquire any other business licenses and permits required. To be sure you’re complying with all legal and tax obligations, it’s a good idea to speak with an attorney or accountant.