A wholesale license can cost anywhere between $3,000 to $10,000 depending on the type of license. Contact the IRS to inform yourself about which licenses you might need to operate your business legally, for laws vary depending on the state and the type of business you want to run.
Why Become a Licensed Wholesaler
Once you get a business license and become a licensed wholesaler you will open a whole world of opportunities for you and your business. You will be able to resell your products to retailers and grow your business exponentially.
Steps to Getting your Wholesale License (and Cost)
Step 1: Register Your Business and Get an EIN (Free)
The first step of this fruitful endeavor is registering your business. You may register online! Before you can acquire a wholesale license you have to contact the IRS to apply for an EIN. The EIN is the Employer Identification Number which is also known as Federal Tax Identification Number. This is completely free and it takes up to 4 to 5 weeks to receive the Employer Identification Number. After this step is completed you will be able to conduct business and hire employees.
Step 2: Register for a Sales Tax Permit (Varies by State)
Depending on the state you live in the terms of this permit and the percent of sales tax you will charge will vary. You will have to contact your state’s tax office to apply and acquire a sales tax permit in order to charge sales tax on the items you sell. Once you finish the application process you will be able to engage in business activity.
Step 3: Applying for a Wholesale License (Varies by Industry)
In order to obtain a wholesale license, you will need to contact your revenue office or state’s tax office. Once your business has its wholesale license you will be free from paying sales tax on the products you buy wholesale for resale. Always consult your lawyer and accountant to inform yourself on what exemptions you qualify for.
Shop Wholesale Products for Resale at Mila Wholesale
At Mila Wholesale, we supply you with Lifestyle Accessories so you can stock your retail store up with goods. Once you get a resale certificate or a seller’s permit you will be able to sell tangible goods and reap the benefits. Check out our wide selection of products for resell!
We want to support you on this venture, so if you have any questions or comments contact us and our team of experts will assist you.