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Help starting business

by Enzo954
8 replies
I plan on making a website that will sell products that I will have dropshipped. The dropshipper requires a tax id number.

What's the easiest and best way to start up this business? Should I just make a LLC business to operate a very small business such as this? It's only going to ne me doing it part time from home. I just need the tax ID number, need to open a business bank account to manage with the merchant account/shopping cart and that's about it. I'm in Florida by the way. Any suggestions? Thanks in advance.
#business #starting
  • Profile picture of the author wlasikiewicz
    Find a dropshiper that dosent need a tax id, unless you want to make it into a fully licenced business..
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  • Profile picture of the author sbucciarel
    Banned
    A lot of services that require a tax ID will accept a SS number as your tax ID. Don't know if this dropshipper will, but have you asked?
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  • Profile picture of the author DDavisDesign
    Hmm LLC has a lot of requirements that i for one am not a huge proponent of, unless of course you have a great legal department, and also it depends on your place in the USA each state has its own rules for LLC. For instance, in Texas we have to have morning meeting notes, filed with the bank, Tax IDs and more, you can check your States requirements via Google "Requirements of LLC." I am a solo proprietor or some spelling like that, if your accountant is in order then you can move higher on the business food chain.

    As sbucciarel stated sometimes the SS number will suffice but then again it depends on your level of business, and your accountability, if you have an accountant ask them all else fails GOOGLE it and see what others say besides, well, Me I'm not claiming to be an expert by any means, just my verbiage have a great one
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  • Profile picture of the author milla04
    If you want to start a dropshipping business in the USA, I do recommend setting up an LLC, which can be classed as a pass-through on your Tax, I also suggest either incorporating in new mexico or Delaware, my best choice would be NM because you will not be required to pay any tax WHATSOEVER. I also recommend getting an EIN too, this will help getting a dropshipper. With that being said, you will need a merchant account, if you are a non US, without any connections in the business world, 95% of merchant services will want you to have a SSN to do a credit check on you. Other companies I know will not preform a credit check as long as you have articles, website and EIN.
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  • Profile picture of the author Quoia
    LLC's - offer some protection from personal liability where as Sole Proprietorship does not.

    Getting a an EIN is painless, you just call up the Fed to request one.

    Register your business with your state Attorney General.

    Make sure you read the specific laws for LLC's in your state, because as mentioned, they can vary widely.

    Consult with your CPA for more in-depth information.
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  • Profile picture of the author Jill Carpenter
    Originally Posted by Enzo954 View Post

    What's the easiest and best way to start up this business? I'm in Florida by the way.
    Not sure if it's the best - but the easiest would be to start a DBA or "doing business as" entity.

    Go to your local town hall and get a business name. Go and register your business with the state. You can then use your SS# as the tax ID.

    (I am not an accountant or a lawyer, but I do recommend you get an accountant and a good one will help you navigate through the process.)
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  • Profile picture of the author Advanpro
    I'd go down the sole trader route
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  • Profile picture of the author stockpost
    LLC may be a good option as you may grow your business over time.
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