Your federal tax id number is issued to corporations, businesses, estates, trusts, and partnerships by filing form SS-4 with the IRS. Sole proprieterships reporting income on schedules C, F, or E typically use the owners social security number. Resale numbers and certificates deal with your state's sales taxes, if applicable. At least here, farm equipment used for farming purposes for food animals is tax exempt. But, as a seller/reseller you would be responsible for collecting sales taxes or the appropriate exempt forms. Here, at least, services are not taxable for sales tax so a lot of shops/people pay the sales tax when purchased or on their state tax return at the end of the year and any mark up on parts is 'hauling' or some other item not subject to sales tax. None of this is offered as tax advice, just my understanding of what my accountant told me that applies to my own situation. I'm a sole proprietership, reporting every penny on schedules D,E, or F who pays sales tax on all resale items reported on state returns at the end of the year.
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Today's Featured Article - An AC Model M Crawler - by Anthony West. Neil Atkins is a man in his late thirties, a mild and patient character who talks fondly of his farming heritage. He farms around a hundred and fifty acres of arable land, in a village called Southam, located just outside Leamington Spa in Warwickshire. The soil is a rich dark brown and is well looked after. unlike some areas in the midlands it is also fairly flat, broken only by hedgerows and the occasional valley and brook. A copse of wildbreaking silver birch and oak trees surround the top si
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