I need to know only what forms I contingency fill out as well as only what fees need to be paid, so I can do things legitimately around ebay. I am already determined as well as am only right away starting to have profits. Everytime I try to do investigate around the internet or the internal Small Business Association, they all begin off with the the same thing – “Make the commercial operation plan”, “Apply for the loan”. “I DON’T NEED A BUSINESS PLAN AND I DON’T NEED FINANCING FOR THE BUSINESS!!” With really low maintenance, I am only offered an register of equipment upon the side, as well as do not wish to get destitute down the highway for not profitable taxes. I know each state is different, though similar to I said, I only need to be ladle fed, where I go what I fill out, as well as what fees I contingency pay. I have already motionless I would substantially wish to be the LLC.
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I live in houston too, do you have any job openings?
The Texas State government has a great web site that will help you with everything you need to know. However, I have been selling on Ebay for years and I find that people usually buy out of their own state in order to save sales tax, so you probably will not get any Texas buyers.
http://www.business.texasonline.com/?language=eng
You have several things to think about. Regardless of whether you form a business entity, you must pay sales & use tax and federal income tax.
Forming an LLC MAY protect you somewhat against lawsuits, and may or may not affect your federal income taxes, but will not affect your sales & use tax. If you form an LLC, you must register with the Texas Secretary of State and file annual reports to stay in good standing. You probably will not owe franchise tax–you need a lot of income for that. The forms are on their website.
Whether you form an LLC or not, you must apply with the Comptroller for a sales & use tax permit. Depending on your revenues, you may file monthly or quarterly returns. You must report income & pay tax on all sales delivered to buyers within Texas. You must pay use tax on all items you purchased for business use IF you did not pay sales tax when you purchased the items.
Whether you form an LLC or not, you must pay federal income tax on your business income. If you form an LLC, you must file a business income tax return to report your income and expenses & make choices about how your income will be reflected on your personal taxes. If you do not form an LLC, you are a sole proprietor, and your income & expenses must be reported on a Schedule C with your form 1040. irs.gov has lots of publications on small business tax reporting. Read up on it. If you get too confused, you can hire an accountant to explain.
If you hire employees, there is LOTS MORE to deal with.