The South Carolina Department of Revenue (DOR) is responsible for issuing wholesale licenses. Before applying for a wholesale license, wholesalers must first acquire a retail license, according to the DOR. Each location will need to pay $50 for a retail license and $100 for a wholesale license. You will require a separate license for each of your locations if you have more than one.
You might be asking if you need a tax ID number to sell on Etsy or if you need a business license to sell on eBay if you’re selling your goods online. Both inquiries have a positive response. Depending on the regulations in your state, you could need a business license to sell on eBay and you’ll need a tax ID number (commonly known as an EIN) to sell on Etsy.
Etsy charges vendors a 5% fee on each item’s sale price as well as a 3% processing fee + $0.25 for each transaction. As a result, you will be required to pay $4.50 in fees if you sell an item on Etsy for $50. These fees include $2.75 for Etsy and $1.75 for processing.
You might be debating whether it’s preferable to set up an LLC or run your business as a sole proprietorship when it comes to selecting the legal structure of your company. Both choices offer advantages and disadvantages. LLCs provide owners with liability protection, although single proprietorships are simpler and less expensive to establish up and run. The decision will ultimately depend on your unique needs and objectives.
In conclusion, a wholesale license in South Carolina costs $100 per site, and you also need a retail license to get one. If you’re selling online, you might need a business license to sell on eBay and you’ll need a tax ID number to sell on Etsy. In addition to a processing fee of 3% + $0.25 each transaction, Etsy charges sellers a fee of 5% of each item’s sale price. Finally, your unique demands and objectives will determine whether you should create an LLC or run a sole proprietorship.
The existence of a “LLC license” in South Carolina is a crucial point to remember. Limited Liability Company, also known as LLC, is a particular kind of corporate structure that provides liability protection for its owners. However, you might need to get particular licenses and permits in order to run a business in South Carolina, including a wholesale license if you intend to sell goods at wholesale pricing.