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  1. #1
    YRSolution is offline Junior Member
    Join Date
    Apr 2009
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    Kansas City
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    15

    Tax Questions for New Business Owner

    Hello and thank you for looking at my thread. I am a new business owner of a Electronics/Home Audio estore. My question for you guys are;

    How do I know when to charge tax on items I buy from my distributor and drop shippers?

    How much would I have to charge for my products? [My Business is based out of Missouri]

    and what is the best business advice you have on what to do with this tax money..Do I just open a new bank account and at the end of the week figure out what all is tax money and send it to that account?

    Okay, that is all I have for now.. Looking forward to your responses..
    YRSolution - Web Solutions Company
    Mob City - Text Based RPG Game [Coming Soon]

    Looking For a Designer who wants to make some money and perhaps form a partnership. Please view my contact info in my profile. Thanks!

  2. #2
    myfayt is offline YE Veteran
    Join Date
    Jan 2009
    Posts
    597
    You charge tax on sales in your state. So if you are operating in Ohio, you only charge sales tax for Ohio residents.

  3. #3
    YRSolution is offline Junior Member
    Join Date
    Apr 2009
    Location
    Kansas City
    Posts
    15
    Okay, that's what I thought.. Thank you!
    YRSolution - Web Solutions Company
    Mob City - Text Based RPG Game [Coming Soon]

    Looking For a Designer who wants to make some money and perhaps form a partnership. Please view my contact info in my profile. Thanks!

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