PDA

View Full Version : Where can I shop with my tax id number?


sherryhiland
Feb 6, 2014, 06:58 PM
I would like to know where I can shop locally with my tax id number and what kinds of things I can buy? I purchase supplies and make crafts to sell. Is that all you can use the tax id for is supplies?

Fr_Chuck
Feb 6, 2014, 07:21 PM
Any business should honor it. They may require copies of your business license and of course the tax id form you need to give them.

In my experience any store accepted it. It of course just defers the taxes, and for a very small business, it may be worth just paying the taxes and deducting them from your business expense, depends on how much you actually spend.

ScottGem
Feb 6, 2014, 07:37 PM
You can't "shop" with just your Tax ID #. You may be able to use it to purchase things without paying the store the tax If that's what you mean.

odinn7
Feb 6, 2014, 09:21 PM
My tax id# is only good for things I buy that are related to my business. I am not allowed to use it for non business related things. I sell used cars....I can use my tax# for the purchase of tires, batteries, wipers, things for the shop like paper, ink, supplies; things associated with the cars and the business, but I can't run out and buy a treadmill for example. In reality, saving the tax on some things is just not worth it to me. Bigger items, things over $50, then it becomes worthwhile to save the tax.

In order to use the number, I had to approach each business I wanted to work with, with my state tax exemption form (REV-1220 in PA) and fill it out for them to keep on file.

You definitely don't want to be stupid about using it and try to take advantage of it. I am sure there are penalties if you're caught abusing the whole thing.

Also, you talk about crafts and supplies...I don't know where you get them but a smaller business like yourself is going to have trouble getting Kmart or Walmart to accept a tax id# so don't even bother wasting your time.

ScottGem
Feb 7, 2014, 05:58 AM
As I understand it a business Tax ID means you are essentially buying wholesale so you can be exempt from being charged sales tax, because you will be charging sales tax on the finished or retail product.