Complications abound when you start your own business. There are forms and data and communication issues everywhere. GovDocFiling walks you through the process of filing for your federal tax ID number in a simple, easy-to-follow fashion. Simple questions and answers turn the usual process of research and second-guessing into a thing of the past. You can breeze through the application and move on to the fun bits of running your own business. Your New Jersey tax identification number is the basis for so many facets of your company.
But those government forms can be so confusing! Start by determining your business type. There are several different options, and each comes with its own benefits. From there, you can begin the application for your EIN.
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Once your registration is complete, you will have to fill out some paperwork before you will be given your certificate. After your paperwork has been approved and your certificate issued, you will not need to pay sales tax on the items you purchase for your business with the intent to resell.
Your customers, on the other hand, will still need to pay sales tax for their purchases. Two different taxes in New Jersey are related to sales. First is the normal sales tax, which is imposed on sales made in New Jersey.
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The sales tax applies to the sale of personal property, certain digital items, and enumerated services. The second New Jersey tax related to sales is the use tax. This tax applies to sales of services or goods that will be used in New Jersey that were not charged the sales tax or were charged a sales tax rate lower than the rate in New Jersey.
Whether out-of-state sellers are required to collect the New Jersey use tax is a complicated issue, and can depend on both state and federal regulations. In terms of federal regulations, the use tax will need to be connected if it can be proven that there is a connection between New Jersey and the sale. If there is a connection between the sale and the state, the next step will be to decide if the seller actually conducts business in New Jersey. The State of New Jersey requires that retailers that conduct business in the state collect both use and sales tax.
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Unfortunately, the state has not provided a clear definition of what counts as doing business. In New Jersey, a seller is considered someone whose business is physically located in New Jersey or a business that has an agent in the state that makes sales.
If your business is physically located in New Jersey, and you sell items subject to taxes , you must collect sales tax when an item you sell is delivered in New Jersey or a service you provide takes place in New Jersey. Fourth class cities in New Jersey have the right to charge a local tax on certain types of retail sales.
Currently, Atlantic City is the only city in New Jersey that imposes this local tax. The local tax is covered by the person making the purchase.
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Sellers are not allowed to cover this tax nor advertise to purchasers that they will cover this tax. Local taxes only apply within the territory of the city. If a sale takes place outside of the limits of the city in question, the local tax cannot be imposed. These local taxes can be imposed on nonresidents if the sale took place inside the limits of the city or a service was provided within the city.
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