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The Law's that Govern an E-Business
February 11, 2007
You’re ready to create an E-Commerce site…don’t forget the rules that govern a brick and mortar apply to an E-business.
The business license.
- Unfortunately, operating your website out of your office or home doesn’t get you off the hook when it comes to licensing. Depending on your location, you may need a city and county license. For local licensing requirements, contact your city or county government offices.
- Aside from the law, a great reason to get a business license is that it allows you to set up a business bank account. Having a company account enables you to have checks printed with your business name, adding professionalism to your new E-business.
Tax ID.
- You’re required to have a tax ID if you’re selling taxable goods.
- Having an E-commerce site means, you are required to collect and report taxes on sales of taxable goods made to customers living within the same state.
Taxes.
- Just because your income is derived from an e-business doesn’t mean the income isn’t taxable…so report it.
Having an E-business means following the same laws and regulations as your next-door mom-and-pop store, so make sure you conduct your business as such.
Posted by Shanu Singh Guliani on February 11, 2007 | Comments (0)
