Although starting a business is an exciting endeavor, there is frequently a lot of paperwork and costs involved. Getting an Employer Identification Number (EIN) for your LLC will be one of your first tasks. The good news is that using the IRS website to get an EIN is free. All you have to do is complete the application form to have your EIN right away. However, there are third-party businesses that may handle the procedure for you for a fee if you would like to have someone else handle it or if you want to accelerate it. The price range for these services is $50 to $200.
If you intend to sell goods or services in Maryland, in addition to the EIN, you might also need to apply for a peddler’s license. Depending on the county in which you intend to conduct business, this license varies in price. For instance, the cost for a one-day license in Baltimore County is $25, a seven-day license is $75, and a 30-day license is $150. A one-year license costs $200 in Montgomery County. Planning ahead is advised because the application procedure for a peddler’s license might take up to four weeks.
Let’s now discuss the typical products peddlers sell. Although street vendors are frequently thought of as selling items, they can also offer services. When selling goods or services on either public or private property that is accessible to the general public in Maryland, peddlers are required to get a license. Clothing, jewelry, food, books, and crafts are among the commonly sold goods by peddlers. Anything from window cleaning to fortune telling can be offered as a service. You might not require a peddler’s license if you intend to offer goods or services on privately owned property that is not accessible to the general public, like at a farmers market or craft fair. It’s best to confirm the requirements with the event planner or property owner, though. A second business license or permission may be needed by some communities, so be sure to check the local laws and ordinances before opening your doors for business.
To sum up, obtaining an EIN for your LLC is free, however there are outside firms that will speed up the procedure in exchange for a fee. If you want to offer goods or services in Maryland on a public or private property that is accessible to the general public, you must have a peddler’s license. Depending on the county in which you intend to conduct business, this license varies in price. It’s best to examine local laws and restrictions before beginning your business because peddlers often sell a variety of goods and services.