This section of the forum is for discussing the business and finance issues of the t-shirt industry. Which business structure to use (sole proprietor, LLC, S Corp, etc), how to handle billing, where to register your business and get the proper licensing, etc.
Im new to the industry and had several questions that hopefully someone can help me with.
Im going to be starting a new T-Shirt website and selling product but my concerns are that I will have issues with licenses and also I.R.S. etc..
Do I need a license to produce t-shirts and sell them online via a website?
I wasn't sure if you could just create your own designs, have them produced and just start selling or if there was certain licenses I needed. I plan on selling not just to my state of Oklahoma but with some luck hopefully to everyone in the U.S. and maybe one day international.
And this question may be a dumb one, but do I need to file taxes for my new T-Shirt Line?
Where do you live & operate? You will definitely need a business license, but you're only required to get an EIN number from the IRS if you have employees. Still, it's not bad to get one anyway.
If you're in the US the best thing you could do is get ahold of the SBA (Small Business Admin.) in your area. They have tons of resources to help you do everything right. Also, your state probably has classes available for startups to teach you about all the required paperwork, how sales tax works, etc.
Oh, and check out SCORE - they're online - it's a society of retired entrepreneurs who offer their time to help people just getting started. Lots more resources!
Thanks for the advice, I will definately be looking into that. Im currently looking into different business classes I can get into and just trying to get everything pulled together, thanks again.
Now I have a partner that will be working with me on this, do I still need the EIN #?
In that case, you need to very carefully draw up a partnership contract and get in enacted by signing it in front of a notary or, preferably, your attorney. The partnership will have joint ownership of the company according to the terms you set forth.
Definitely form an LLC, and the LLC will file for the EIN number, business licenses, etc... everything will be in the name of the LLC instead of your personal name, and you will have part ownership of the LLC.