What do I need?

[ColinRuss]

If I am going to run an online business I need to know what licenses and permits I am required to have. From what research I have done I understand I need a business license and a tax Id. Do I need a seller's permit? I live in Illinois as a student if that has any impact.

Thanks

Colin Russ

[jeremylorino]

What type of business will you be conducting online?
What type of entity will be governing the site? i.e. Sole Proprietor, Partnership, LLC, Corporation
Where will most of your customers be located?

[rogercbryan]

Try making some sales before you rush out to spend a bunch of money on licensing and all that. Spend your money on inventory... make some sales... worry about everything else later.

[GuyBBY]

Try making some sales before you rush out to spend a bunch of money on licensing and all that. Spend your money on inventory... make some sales... worry about everything else later.

Agreed- you have some leeway interms of when you will need to take the route of picking your structure, get EINs, etc. Meaning, no you can't do $100k in sales and THEN get everything together, but 5-10 sales that show stable business model and potential cash flow will give you a reason to invest in proper set up and further development.

Guy