Resale to Wholesale

NY

Hello,
I own a business in New York State (an LLC). I have been thinking about going from being a reseller to becoming a wholesale distributor. I already have my EIN and sales tax id. How do I go about obtaining a wholesale license? I have looked all over the net and have found nothing. The only thing I did find was the license to become a wholesaler for tobacco and alcohol.
Thanks.

ace920 said:

NY

Hello,
I own a business in New York State (an LLC). I have been thinking about going from being a reseller to becoming a wholesale distributor. I already have my EIN and sales tax id. How do I go about obtaining a wholesale license? I have looked all over the net and have found nothing. The only thing I did find was the license to become a wholesaler for tobacco and alcohol.
Thanks.

Click to expand...

You need to contact the NYS Tax Department (who issued your Sales Tax ID) about getting your paperwork updated so that you can engage in non-taxed buying and selling (wholesaling)

You do not need to stop being a reseller to do wholesale BTW. You do need to collect sales tax on your retail transactions, as you are doing now.

This is a coarse overview. The tax agency will have the info, forms and fee schedule. Be prepared to pay and engaging in additional filings. You may consider the advantages in having an accountant help with this, or at least in setting you up.