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Join Date: Jun 2010
Location: Bismarck, ND
| | Re: For those who sell on Etsy, do you have a tax ID and legit set up?
Originally Posted by laydewlf
y'all are talking about 2 different forms of tax here -- sales tax and income tax. you do need to collect and pay all sales tax, therefore you need a tax id. at the end of the year when you are doing your income tax for your job, your business etc, here is where the 599 comes in. if you have earned less than 600, you don't have to include this as income and therefore be taxed on it, but if it is over that amount, total profit must be included.
i am not a tax accountant nor do i play one on tv. i am happy to be corrected, but this is my best understanding of the issue.
thanks that what i was trying to say, but it didn't come out as well