QUESTION
Is selling online considered a business that requires a business license?
Asked on May 31st, 2013 on Taxation - Michigan
More details to this question:
I sell online, and it has expanded to a very large volume of merchandise. My question is, is it considered a business? As far as taxes are concerned. Would I need a business license or would it simply be considered self employment additional income when taxes come?
2 ANSWERS
Probate Attorney serving St. Louis, MO
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Edward L. Armstrong, P.C.
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Whether or not you would need a business license would most likely depend on your locality. For tax purposes it would be self employment income and you would pay self-employment taxes (15.3%) on net self-employment income over $400 in addition to regular income taxes. If your business is not a corporation you would file Schedule C with your Form 1040.
Answered on Jun 04th, 2013 at 10:27 AM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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It is impossible to answer your question as posed, you should see an attorney regarding limited liability business organizations and possible tax and regulatory issues.
Answered on Jun 03rd, 2013 at 7:48 PM