NY State Sales Tax

[Den82]

I'd like to start buying toys wholesale for my eBay store. Like the new SMDM stuff and maybe even Hot Toys if possible.

What is the process and steps that must be taken?

[toys2cool]

The Hot toys is an expensive thing man..The guy I buy from tells me he has to order a crap load to get a small discount

[megocrazy]

You need to register as an actual business and get a tax id number. For small businesses it's usually your SS number. Some distributors will ask for pictures if you are a brick and mortar location or proof of business as an online seller for a period of time. You will usually need to place a large order initially. $2000 is common but I wouldn't be surprised to see $5000+. Once registered as a business you will need to file quarterly sales tax forms based on your taxable sales. You'll need to claim the sales on your income taxes, unless you can show that all profit was spent between stock and the actual web site costs.

[Adam West]

Once you receive the business license; you can obtain a resale certificate. That way, you won't have to pay sales tax on the items you buy for re-sale.