Tax exempt

Question: Tax exempt

10/1/2024 6:08 AM Irvington, KY KY.
I sell farm products and give to people that use farm produce to make products, as a rich businessman s o I want to create another company that will give me more income. Soon my husband and I are looking into getting a business license for our farm, and just don't know what all we have to do My husband and I are looking into getting a business license for our farm, we just don't know what all we have to do I'm going to pay but can you reduce the price a little

Hi Fay, the tax ID you need is called a business tax registration ID also called a business license and an EIN -- in addition to a USA FSA tax ID that you need to get (see instructions below).

That said, here is what you need as far as licenses and tax ID numbers: "Kentucky blessed farm, LLC" has to be registered with an LLC certificate.

If you order on our site, you get the LLC operating agreement (legally required) for free, as well as the LLC articles or organization (LLC certificate).

You also need to buy without paying sales tax from agricultural supply as well as Lowes or Home Depot, and other wholesale vendors, you need a seller's permit.

Because you are selling animals, you will need a USDA animal transfer license and as far as the steps to get the FSA local farm ID, here are the steps:

1. You can find your local county office online at http://offices.usda.gov.

2. During your first visit, be sure to bring: Proof of identity (driver’s license, social security card, IRS EIN number) Proof of Ownership (copy of recorded deed) Leases Entity Identification Status (articles of incorporation, trust & estate documents, partnership agreement).

3. Registering your farm allows you to apply for FSA programs.

4. After we determine your eligibility to participate in FSA programs and loans, we walk you through the application process. More information may be needed depending on the program.

Sole Proprietorship with 0 Personel. . DiIrmasch World Wide Kentucky blessed farmCo. How to get my free tax id What is the difference between a tax ID and a sales tax ID? Sole Proprietorship Federal Tax ID Number vs. EIN. Irvington Breckinridge County  , KY 40146.
 
Here is what tax ids you are legally are required to get for in Irvington, KY.
IMPORTANT: Requirments below include Web based, Online, Websites, Home or eBay Businesses)

 
Answer:

The following are the tax numbers you need to start your Irvington small company.


    99% of new businesses are required to get a(n) , Irvington business tax registration.

  Businesses with an trade firm name other than the owner's legal name are required to get a(n) Breckinridge County   DBA assumed business name certificate.  

   On the other hand you may also need a sales tax ID AKA seller's permit if you sell merchandise that is taxable.  (A.K.A KYseller's permit, state id, wholesale, resale, reseller certificate).

    In addition you will need a federal and a state EIN if you will hire employees. I.e., a KY Federal Tax Id Number and a(n) KY  State Employer Tax Number  

    Instead of filing a fictitious business name DBA Filing in Irvington, Incorporate in KY  or form a(n) KY LLC 

Here are the tax IDs that businesses need: 1. an IRS tax ID number. 2. A state resale tax ID number an employer tax ID number and 3. A tax registration ID number.

New businessess whether home or other types will need a general tax registration that could be a business permit and or license. Sole proprietors just need that plus perhaps a registration of a business name certificate if in fact the business is using an assumed business name. E.g. if the business is called "Superior Medical Billing" it will need to file a DBA. Other than that employer sole owners will need both a federal ein and a state ein and if selling any type of widgets such as items on eBay or Etsy will need a state reseller number also called a seller ID or resale number. Finally starting businesses must choose a business legal/tax structure. There are 4 major business entity structures: 1. A sole proprietorship a partnership an LLC and a corporation. You can select any one of them. If you select a sole proprietorship you will need at a minimum a business tax registration (business license) and a trade business name registration.


The following are the tax numbers you need to start your Irvington small company.

    99% of new businesses are required to get a(n) , Irvington business tax registration.

  Businesses with an trade firm name other than the owner's legal name are required to get a(n) Breckinridge County   DBA assumed business name certificate.  

   On the other hand you may also need a sales tax ID AKA seller's permit if you sell merchandise that is taxable.  (A.K.A KYseller's permit, state id, wholesale, resale, reseller certificate).

    In addition you will need a federal and a state EIN if you will hire employees. I.e., a KY Federal Tax Id Number and a(n) KY  State Employer Tax Number  

    Instead of filing a fictitious business name DBA Filing in Irvington, Incorporate in KY  or form a(n) KY LLC 

You have a choice to register a fictitious business name or form an LLC or incorporate. Partnerships will need to obtain a federal tax id number. There is a cicrcumstance that you may not need to register a trade name and that is when you use your full name as a business name if you use your full legal name as a trade name. Also note that even using your first and last name may not help you avoid filing a DBA if the name has a suffix such as "& sons" etc.
  • FIRST STEP: Make sure you get related tools such as specific equipment .
  • SECOND STEP:   determine the Irvington business location (you home can be a business location).

  • THIRD STEP: Obtain tax ID number(s) and licenses. Here is the minimum registrations you need:

  • If you want to improve your business income set up a corporate entity such as a corporation or LLC. It will look better than a sole ownership and or a general partnership. Perhaps the sole way of avoiding lawsuits and creditors after your assets such as your home and automobile is to form an LLC or incorporate. You can offset personal losses against the profits of an LLC or S corporation.

Farm

 I'm starting a small goat farm, what do I need to register my farm I would like to register a farm It's me and my father-in-law. Crop farming and stock. I need a farm tax # for I have a general business license for my farm, How to get a license for business? It says step one is getting an FSA local Farm ID? 
Starting a Goat Farm Business: The Ultimate Guide --- So, you’re ready to leap into the world of goat farming! Whether you’re in it for the milk, meat, or the endless cuteness (goat yoga, anyone?), there’s a lot to consider before you start hearing those “baaaas” echoing around your farm. Let’s get down to the nitty-gritty of licenses, permits, and other business essentials. Grab your pitchfork and let’s dig in!

Goat Farming: The ‘Udderly’ Impressive Industry

To get started, let’s chew the cud on some fun facts. The goat farming industry is a thriving market globally, with the U.S. contributing significantly to the $6 billion goat meat industry worldwide. Goats are like the Swiss Army knives of livestock - they produce milk, meat, fiber, and even help with weed control. Plus, they’re basically the social media influencers of the animal kingdom; their cute antics are sure to attract visitors to your farm.

Start-Up Capital and Essentials

Launching a goat farm requires a fair bit of moolah (pun intended!). Here’s what you’ll need:
  • Initial Capital: Expect to spend between $50,000 to $100,000. This covers purchasing goats, fencing, shelter, feed, and initial operational costs.
  • Goats: Obviously, you’ll need goats! The price varies depending on the breed and whether you want them for milk, meat, or fiber. Plan for at least a few thousand dollars to get your herd started.
  • Equipment: Fencing, shelters, feeding and watering systems, milking equipment, and basic veterinary supplies. Don’t forget a sturdy pair of boots for yourself!
  • Land: Goats need space to graze. Factor in the cost of leasing or buying land and making it goat-ready.

    • Business Name Registration: Make Your Farm Stand Out

    Every great goat farm needs a catchy name. Whether it’s “Billy’s Bonanza” or “Goatastic Acres,” you’ll want to register your business name to stake your claim. This protects your brand and ensures no one else in your area can snatch it. Plus, it’s your farm’s first step into the business world, so make it memorable!

    LLC or S Corp: Securing Your Goat Empire

    Setting up as an LLC (Limited Liability Company) is usually the go-to for small farms. It protects your personal assets from any liabilities the farm might incur (because no one wants to lose their house over a goat escapade). An S Corp could be beneficial if you’re planning to scale up or have significant earnings, offering potential tax benefits. It’s a bit more complex but worth it if you’re aiming to be the Jeff Bezos of goats.

    Seller's Permit: Because Your Goats Are Profitable

    If you’re selling goat products like milk, cheese, or meat, you’ll need a seller's permit. This allows you to collect sales tax on your goods. It’s like your official license to “cash in” on those adorable goats, ensuring you’re in compliance while raking in the dough from your dairy delights or other products.

    Business License: Your Green Light to Go-Goat

    Before you start building your goat empire, you need a business license. This is your legal ticket to operate, covering everything from farming to selling. Without it, your goat farm might be more of a backyard hobby than a legitimate business venture.

    Special Permits: Because Goats Love Red Tape Too

    Goat farming often requires a few additional permits, especially if you’re dealing with food products or livestock. You might need health and safety permits for milk production or environmental permits to ensure your farm practices are eco-friendly. It’s all about making sure you’re producing top-quality goat goodies safely and sustainably.

    EIN: The Social Security Number for Your Goat Biz

    An EIN (Employer Identification Number) is essential if you plan to hire employees, open a business bank account, or keep your farm's finances separate from your personal ones. Think of it as your business’s ID number, crucial for tax purposes and to keep things tidy in the eyes of the IRS. It’s like having a little collar tag for your business in the big financial paddock.

    Land Use and Zoning: Keeping Your Goats in the Right Pasture

    Make sure your property is zoned for agricultural use. Check if you need any special land use permits to operate your goat farm. It's all about ensuring your goats are grazing in the right place and you’re not stepping on any legal toes. Excited to get started? Head over to [BusinessNameUSA](https://www.businessnameusa.com/) to kick off your business registration process. They’ll help you herd all your paperwork into place! Remember, every great goat farm starts with a single step - or in your case, a single bleat!
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    51736 If you have a partner you will need to register the company name and obtain a federal ID.
    If you are a service type of business but you also use parts you will need a sellers permit also called a resale license or resale certificate AKA sales tax id or seller's permit to collect taxes and or buy wholesale.
    Any businesses that sell prepared food need a seller's sales tax id number license.


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