Sales tax preparation for wireless retail stores FAQS

1. Are Wholesalers compulsory to register for a retail sales tax license?

If you are 100% wholesale, you are not required to register for a retail sales tax license. When you purchase tangible personal property to be resold to a retailer, you will requireoffering the seller with your completed Form 149, Sales/Use Tax Exemption Certificate. If you are the seller, you will need to collect the form 149 from the purchaser.

2. What owner, officer, partner, and/or member information is required?

The name, title, title effective date, social security number, date of birth, home address, city, state and zip code is obligatory for each owner, officer, partner and/or member. Your registration might be delayed or not completed without all necessary information.

3. In what way to start a Wireless Phone Retail Store?

Wireless phone sales is a profitable business. Research firm Canalys reports that smartphone sales grew 886 percent in the second quarter of 2010. Manufacturers shipped more than 23 million units. While small size lured consumers in the 1990s, style and features have concealed density in the bid to compete with one's peers for the coolest phone. As technology improves, "new" devices become old news. Entrepreneurs positioned to offer wireless consumers the devices and services they want stand to turn a healthy profit.