I'm trying to start an website as a small side buisness with a friend as a general partnership. We're in New Jersey.
I've already obtained an EIN and completed the Online Tax/Employer registration, although we won't have any employees.
I'm pretty confused as to what else we need to do before we begin sales. I think we have to charge sales tax, and file sales taxes quarter anually, but I don't know when the first of that tax year would be. I also think I understand that as a general partnership, any income would be filed by us as individuals, again, not 100% sure though.
Anyway, I feel pretty lost, and most government webites feel so cluttered that they haven't really helped. Any help would be great.
Well, you guys might want to consider forming an LLC in your state; you can simply make it a disregarded entity and have all income pass directly through to the members (owners). This makes the income tax situation easier on both sides. You can visit the link below to the New Jersey Division of Taxation to get more information on sales tax; remember, you only collect sale taxes on sales in your state.
http://www.state.nj.us/treasury/taxation/
the best way to start online business is to find the niche first ...
Well, you guys might want to consider forming an LLC in your state; you can simply make it a disregarded entity and have all income pass directly through to the members (owners). This makes the income tax situation easier on both sides. You can visit the link below to the New Jersey Division of Taxation to get more information on sales tax; remember, you only collect sale taxes on sales in your state.
http://www.state.nj.us/treasury/taxation/
Hello NicoleD, thank for clarifying this things for us, but I wonder is there any special conditions, taxes or paper work for online business with no headquarters?
Do we need a LLC do deducte business expenses? jocuri barbie
Well, you guys might want to consider forming an LLC in your state; you can simply make it a disregarded entity and have all income pass directly through to the members (owners). This makes the income tax situation easier on both sides. You can visit the link below to the New Jersey Division of Taxation to get more information on sales tax; remember, you only collect sale taxes on sales in your state.
http://www.state.nj.us/treasury/taxation/
sussane | Window Shopper | 4/18/2011 - 1:53 am
Alexandru | Window Shopper | 3/31/2011 - 9:41 am
Alexandru | Window Shopper | 3/31/2011 - 9:42 am
irucojenilnoeb | Window Shopper | 9/4/2011 - 10:55 am
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