How to Get a Wholesale License in Missouri
If you plan to start a business that involves selling products in bulk, it is essential to obtain a wholesale license. In Missouri, the process of getting a wholesale license is relatively straightforward. Here is a step-by-step guide to help you navigate through the process.
1. Determine the type of wholesale license you need: Missouri offers various wholesale licenses, such as a retail sales tax license, sales tax exemption certificate, and federal employer identification number (FEIN). Identify which license is suitable for your business.
2. Register your business: Before applying for a wholesale license, you must register your business with the Missouri Secretary of State. You can do this by filling out the necessary forms and paying the required fees.
3. Obtain a retail sales tax license: If you plan to sell taxable products, you need to apply for a retail sales tax license. You can register online through the Missouri Department of Revenue’s website or by submitting a paper application.
4. Apply for a sales tax exemption certificate: If you plan to buy products for resale, you may need a sales tax exemption certificate. This certificate allows you to purchase goods without paying sales tax. You can apply for this certificate through the Missouri Department of Revenue.
5. Obtain a federal employer identification number (FEIN): If your business has employees or operates as a corporation or partnership, you will need an FEIN. You can apply for an FEIN through the Internal Revenue Service (IRS) website.
6. Comply with additional requirements: Depending on your business type, you may need to fulfill additional requirements, such as obtaining permits or licenses specific to your industry. Research and ensure you meet all the necessary prerequisites.
7. Renew your license: Wholesale licenses in Missouri must be renewed periodically. Stay updated with the renewal dates to avoid any penalties or disruptions in your business operations.
1. Do I need a wholesale license to sell products in bulk in Missouri?
Yes, you need a wholesale license, such as a retail sales tax license or sales tax exemption certificate.
2. How long does it take to obtain a wholesale license in Missouri?
The processing time varies, but it typically takes a few weeks to receive your license.
3. Can I apply for a wholesale license online?
Yes, most applications can be completed online through the Missouri Department of Revenue’s website.
4. Is there a fee to apply for a wholesale license?
Yes, there are fees associated with obtaining a wholesale license in Missouri. The fees vary depending on the type of license you need.
5. Can I use my wholesale license to purchase goods from other states without paying sales tax?
No, your wholesale license is only valid in Missouri. If you plan to buy goods from other states, you may need to obtain a resale certificate specific to that state.
6. How often do I need to renew my wholesale license?
Wholesale licenses in Missouri must be renewed annually.
7. Can I operate my wholesale business without a wholesale license?
No, it is illegal to operate a wholesale business without the necessary licenses and permits. Failure to comply may result in penalties or legal consequences.