Monday, February 20, 2012

Where can I find information about importing items for resale?

I'm looking for information on what taxes I have to pay and how to pay them.Where can I find information about importing items for resale?Go here: http://www.customs.ustreas.gov/ for everything you'll need to know about importing goods into the US.



For the most part any import duties will be levied when the goods hit US shores. Virtually all shippers are collecting agents for customs duties. You'll have to arrange to pay the duties to have the shipments released for delivery.Where can I find information about importing items for resale?TFTP

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Where can I find information about importing items for resale?1. Custom duties, tariffs, anti-dumping duties/fees, etc., on their value when imported.

2. Income tax on your profit (the difference because what you paid for them and the amount you obtained by selling them).

3. Sales tax (technically, the buyer pays this, not you, but you still send it to the government).

4. Unincorporated business tax if the business is in a location with this tax (such as N.Y. City) and is not incorporated.

5. Self-employment tax on 92.35% of your profit (see income tax, above), if the business is an S corporation or is not incorporated.

6. Corporate income tax if the business is a C corporation.

7. Real estate tax if you own the land or building where this occurs.

8. Depending on the location, possibly franchise and/or gross receipts tax.

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