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Our List of 6+ Licenses and Permits You May Need to Open a Resale Store:
A Business License is a legal document that grants permission to an individual or company to conduct business in a specific location. It is required by law in most jurisdictions and is necessary for tax purposes, to comply with local regulations, and to protect the public interest. You might need a Business License to start a Resale Store because it is a commercial enterprise that involves buying and selling goods. Depending on the location of your store, you may need to obtain a local business license, a state business license, or both. Failure to obtain the necessary licenses can result in fines, legal penalties, and the closure of your business. Additionally, having a Business License can help establish your credibility as a legitimate business and provide protection from liability.
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A Sales Tax Permit, also known as a Seller's Permit or Resale Permit, is a document that allows a business to collect and remit sales tax to the state government. In the case of a Resale Store, a Sales Tax Permit is required because the store will be selling merchandise that has already been taxed by the manufacturer or distributor. By obtaining a Sales Tax Permit, the Resale Store can avoid paying sales tax on their own purchases and instead collect it from their customers. Failure to obtain a Sales Tax Permit can result in fines and legal penalties.
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An Employer Identification Number (EIN) is a unique nine-digit number assigned by the Internal Revenue Service (IRS) to identify a business entity for tax purposes. You might need an EIN to start a resale store if you plan to hire employees, open a business bank account, or file tax returns. Additionally, some wholesalers and suppliers may require an EIN to sell products to your store.
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A Resale Certificate is a document that allows a business to purchase goods without paying sales tax. This certificate is issued by the state government and is used by businesses that intend to resell the purchased goods. If you are starting a resale store, you will need a Resale Certificate to purchase inventory from wholesalers or other suppliers without paying sales tax. This is because the sales tax will be collected from the end consumer when they purchase the item from your store. Without a Resale Certificate, you would be required to pay sales tax on the items you purchase, which would increase your costs and reduce your profits.
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A Certificate of Occupancy (CO) is a legal document issued by a local government agency or building department that certifies a building's compliance with building codes and other regulations. It verifies that the building is safe and suitable for occupancy.To start a resale store, you may need a CO to ensure that the building you are using meets all the necessary safety and zoning requirements for commercial use. This certificate is usually required before you can open your store and begin operating legally. It may also be necessary to obtain a CO before you can obtain necessary permits, licenses, and insurance policies.
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A Signage Permit is a legal authorization granted by the local government to install and display signs on a property. It ensures that the signs comply with the zoning and safety regulations of the area.You might need a Signage Permit to start a Resale Store because you need to advertise your business and attract customers. The permit allows you to install signs that are visible to the public and comply with the local regulations. Without a Signage Permit, you may be fined or forced to remove the signs, which can negatively impact your business.
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