eBay

hopinnshop · ‎02-15-2018

I was a seller on Ebay last year and I made less than $5000.

I want to start selling again but keep it low profile and make some extra cash.

I was wondering if I need to get a business liscence if my revenue is less than $5k.

Thank you!

orangehound · ‎02-18-2018

@hopinnshopwrote:
First of thanks for replying.

I would be buying wholesale and selling on ebay.
So as long as my income is less than 20K per anum then I might not require a business license?
If I need to get a license then is there a specific type of license that I need to get?

Since I am new to the business world my knowledgeis limited.

I recide in Minnesota. I will also check with the state laws to make sure what I might have to do.

You will need to register with your state to pay sales sales taxes you collect ... this will also get you qualified to get a resellers certificate (with which, you can buy wholesale goods without paying sales taxes).

In my experience, business licenses are issued by your local county or city. The point of the license is simply to ensure that you are following whatever laws they have on the books for operating a local business ... there probably won't be many such laws for an on-line retailer, so it is mostly just another way for a local jurisdiction to collect a tax/fee from a business.

hopinnshop · ‎02-18-2018

Thank you for making some critical points.

I am not looking at making money in a few days. I just want to invest some money that can keep rolling till I get some traffic. And then hoping to generate a little profit by the end of the year.

I want to set up a small busines that can generate me a side income. And I want to sell small items which doesnt require a lot of storage and shipping costs.

As a first timer on Ebay in 2016 I made $4500 out of $480. I am not aiming high here. I just want to take time and set up something that has a potential of generating decent profit. I am hoping to do something similar but may be push the threashhold a little bit.