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Hello,


Recently I finalized several cosmetic products and I am ready to start selling them.


I realize that I have to register LLC and get a liability insurance.


My question is – what else do I need? I have heard about tax id numbers, do I need to get it and how?


Is there anything else I need get to be legal?


 


Thanks so much in advance.


 


Alexandra

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Yes, you would have to get a EIN number if you plan on getting a LLC. It is kinda like a social security number for your business. This EIN is your permanent number and can be used immediately for most of your business needs, including opening a bank account, applying for business licenses, and filing a tax return by mail. Here is the link. http://www.irs.gov/businesses/small/article/0,,id=102767,00.html to apply online. I know in NY you have to also apply to nys dept of tax and finance to receive a certificate to collect sales tax. I hope this was of some help.

Best wishes
Yolanda
Yolanda,
Thank you very much, this is so helpful!
I am in New York too.
No problem. Since you are from NY. Here is the link for the nys tax and finance. http://www.nys-opal.com/
Thank you so much, Yolanda! This link is exactly what I was needed....
Congratulations! I too am just about to 'open' online. I chose to use my SSN as a sole proprietor for now until I grow some. It's easier for now. I am going to join the Indie business network and get insurance through here; it's really reasonable. Here in Calif. I needed to apply locally for a sellers permit also. You might check into that. Good luck!
Deanna,
Congratulations to you too! Thank you for your reply.
I was debating between sole proprietor and LLC. It does seem easier to have a sole proprietorship business and I was going to get that but some of my friends advised to form an LLC. The main argument was if something happens, you are responsible 100% for everything up to the point of going to jail :) This is a huge exaggeration, of course.
Anyway, I guess I have to think more about this.
I will get my insurance through Indie too.
I think it is definitely better to take the extra time and go for the LLC; I plan on switching to that and it probably would have been easier in the long run. That's why i'm going to make sure I get the liability insurance!
Congrats!!! I hope everything works out well for you.
Thank you!
LLC, FEIN #, State Sales Tax permit, Insurance (property, Business interruption and Product Liability) for starters.. I wish you the BEST! I'm going through this with you! :)
Thank you so much, Barbara. This list is exactly what I was looking for.
Hi Barbara,

I also have a small bath and bosy products company and m lloking for liability insurance. Do you have any suuestions on where to go?

Hope to hear from you,

Sindi

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