Etsy U.S. Tax, Bookkeeping, QuickBooks, and Business License Topics Help with business registration

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Original Post

Hello fellow Etsians. I don't know if I'm the only one here that did this but here goes. I opened my shop here in November 2011 but never thought of registering as a small business in New Jersey (where I live). Now that it is 8 months later, will I be penalized for not registering 15 days prior to starting my business and how hard and expensive is it to register now? I am admittedly completely ignorant about the LEGAL side of running a business and could use some easy to understand advise on this matter. Thanks in advance for all of your help.

Posted at 12:01pm Jun 15, 2012 EDT


artisanwoodcrafting says
Edited on Jun 15, 2012

when I was in jersey, it was free to register with the tax dept. to collect sales taxes. they will make you pay any back sales taxes that may be due from instate sales, but I dont think there is a penalty for not doing it before, as long as you are voluntarily doing it now.

i dont know about your local city and county, so you will have to check with them to see if you are required to get a business license or home occupation permit, and register your DBA name or not

heres the online registering for the dept. of taxation

Posted at 12:12pm Jun 15, 2012 EDT

oh another tip- i dont know if they still do, buy jersey used to use your SSN as your state tax ID, so you may want to get an EIN from the IRS, so you dont have to use your SSN and give it out to suppliers you buy from

Posted at 12:16pm Jun 15, 2012 EDT

Great tip!! Thanks so much for your help :)

Posted at 12:21pm Jun 15, 2012 EDT

artisanwoodcrafting says
Edited on Jun 15, 2012

on that jersey registration page is a link to the IRS to get an EIN too. if you are getting one, you need to get that first, then go back and register with the dept. of taxation using it

Posted at 12:35pm Jun 15, 2012 EDT

Done and done, I'm all legal now!! Thanks again for your help. That is a HUGE weight off my shoulders.

Posted at 1:16pm Jun 15, 2012 EDT

make sure you check with the city and county offices too

Posted at 1:21pm Jun 15, 2012 EDT

Sharon, did you register as a corporation? Did it cost money? I'm trying to figure this all out and it's making my head spin...I got the FEIN down so that's one step in the right direction! :)

Posted at 9:55pm Aug 13, 2012 EDT

GoTo from GoTo says

Most sellers here register as sole proprietorships, but if you sell food, bath & body or items for children incorporating is a good idea to protect your personal assets.

The links to your state website here should help you find the info you need:

US: Sales Tax & Business Registration--Links to Official Government Websites

Posted at 3:39am Aug 14, 2012 EDT

What do all these acronyms mean please?

I am in the same position as Sharon from YarnsnTails, I am based in NYC

Thanks Team!

Posted at 12:02pm Aug 16, 2012 EDT

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