InfoTax Square

11/27/2019

I live in California and bought something from someone in Texas on eBay and was charged sales tax. Is this right?

Generally eBay and Amazon Collects Sales Tax on A Seller's Behalf

10/23/2019

In most states of the United States, it is required to add an extension next to a company name to distinguish the entity type such as a corporation, limited liability company or a P.C (Professional Corporation).

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03/11/2019

What is the requirement to start a Ho**ah Lounge?

Like the other businesses, Ho**ah Lounge has also a specific requirement to meet prior to open it which are share below for your reference.

Business Name Registration For A Ho**ah Bar:

A business name is required to register for a Ho**ah Bar with the secretary of state or your county, that depends what type of entity you have decided to run a business under such as a corporation, LLC or a Sole Proprietorship.

Obtain Employer Identification Number for the Ho**ah Bar:

An EIN is obtained if you are conducting business under an entity or hiring an employee.
State withholding and & Unemployment Registration: It is required for any employee who is on the payroll, including the officers/directors of the company.

Business License For A Ho**ah Lounge:

A business license or a building occupancy license is acquired from the building department to start a Ho**ah Lounge. A building department inspector visits to inspect the place to make sure that the owner of the business has taken all measure precautions to handle for any accident.

Sales Tax Number And Retail, To***co License:

The above-mentioned permits are required in most states to acquire to run a Ho**ah Lounge.

03/08/2019

Can a stockholder/officer of the corporation issues him/herself 1099?

No, an officer of a corporation cannot issue him/herself a 1099, rather he takes salary from the company as an employee.

The Internal Revenue Service considers an officer of a corporation an employee not an independent contractor.

Create a withholding and unemployment account:

A withholding and unemployment registration accounts are created with the division of taxation to withhold taxes for the employees, which reports on the Form W2 to file income tax returns.

Required to withdraw a reasonable payroll from the business:

An officer of a corporation is required to withdraw a reasonable payroll from the company, instead flow through on personal as a dividend to avoid paying self employment and unemployment taxes. If this practice is not exercised, the Internal Revenue Service and the state will force to do it.

03/08/2019

Who is required to obtain to***co license?

A person who wants to sell cigarette and to***co products as a retailer, wholesaler, distributor, importer or a manufacturer is required to get a to***co permit along with the sales and use tax license.

A to***co permit is applied to the state, city or county which differs on each state's unique requirements.

Generally, following information is requested to issue a cigarette and to***co license.

Name of the business
Name of the owners
Social Security Number of each business owner
Date of birth of each business owner
Business address
Eye Color
Height
Security Bond
Filing Fees
Some states do the background check as well.

Estimated time to issue a retail to***co license.

Same day to two months which differs state to state.

03/03/2019

How To Decide, that Where To Open An LLC For An Entertainment Business, who performs in different states?
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02/27/2019

Does' State of New York Permit New York LLC To Move Into Virginia?

Requirement to move an LLC from New York To Virginia

02/27/2019

FAQ To Move Out A Corporation From The State of Illinois To Texas?

File Article of conversion and Statement of Domestication

02/27/2019

What is the process of a foreign limited liability company intending to become a Virginia LLC?

Requirement to move an LLC from New York To Virginia

02/26/2019

Distinction Between A Social Security Number And Sales Tax Number?

Purpose or Social Security Number and Sales Tax Number