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I want very much to open a second hand store in Ascutney V.T.

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and need to no how...
I want very much to open a second hand store in Ascutney V.T. and need to no how to go about it
Submitted: 8 years ago.Category: Business Law
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Answered in 4 hours by:
6/19/2010
Business Lawyer: Richard - Bizlaw, Attorney replied 8 years ago
Richard - Bizlaw
Category: Business Law
Satisfied Customers: 10,841
Experience: 30 years of corporate, litigation and international law
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What kind of products will you be selling?
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Customer reply replied 8 years ago
I wish to sell high end clothes, men's boys girls something for everyone but I want it to be nice things. second hand dosnt have to be nasty or frumppy I want things that I would buy. maybe small elec. devices dishes if it is a set. I want to make people happy with product and my word
Business Lawyer: Richard - Bizlaw, Attorney replied 8 years ago

You will need a sellers permit in order to sell which also entails getting a resale certificate so you do not have to pay sales tax on your purchases that you intend to resell. Here is a site that will provide you information on this issue.

 

http://www.businessnameusa.com/Sellers%20Permit/Vermont.htm

 

It does not appear that you will need a license to conduct a retain operation of the type you have in mind. You will need workers compensation insurance if you have any employees. I suggest you either incorporate and be an S corporation or form an LLC. Once you form your organization you will need a tax ID number from the IRS which you can get at irs.gov.

 

This communication is not intended as legal advice. A local attorney should always be consulted for legal advice. No client/attorney relationship is intended or created by this communication.

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Customer reply replied 8 years ago
i am not sure what you are saying I will not have others working just myself, what will I need to go to the town with what will they need to get me going. I want to be leagel in every way. I know it is needed in this area and I no I will do well but I do not want any surprises down the road
Business Lawyer: Richard - Bizlaw, Attorney replied 8 years ago

In order to be in the retail business in Vermont you have to have a Sellers Permit. The site I listed provides information on the permit and where you can obtain it. Certain types of retail establishments need a specific license. What you propose to do does not require such a special license. You can operate your business as a sole proprietorship. I recommended that you incorporate your business by either forming a corporation or a limited liability company (LLC). If you form a corporation, I suggested you make what is called a Subchapter S election so you are taxed as though you were a sole proprietorship rather than as a corporation.

 

To start your business, you need a Sellers Permit and you need to place to operate from. That is it.

 

This communication is not intended as legal advice. A local attorney should always be consulted for legal advice. No client/attorney relationship is intended or created by this communication.

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