If you plan to start reselling in California, then you must have a seller’s permit. The permit allows you to sell items at the wholesale or retail level. It also grants you the right to issue resale certificates to your suppliers.
So What Is a Wholesale License?
The seller’s permit is the same as a wholesale license in California. A wholesale license allows you to purchase taxable goods in bulk without paying tax on them.
But when reselling the products, you must impose a state sales tax on them, which goes to the state every quarter.
We’ll first look at the benefits of having a wholesale license before we can embark on the question – how do you get a wholesale license in California?
Advantages of a Wholesale License
The most significant benefit of obtaining a wholesale license is that you get to purchase goods in bulk at a discounted price. As such, you can be sure to save a bit of cash, which is not possible when buying at retail.
Aside from the lowered cost, a wholesale license grants you an opportunity to get in touch with sellers who deal in items that are difficult to find. That means you can stock stuff that your competitors may not have in stock giving you an edge.
Once you have obtained a wholesale license, you can purchase stuff from just any entity on wholesale.
In California, there are two ways to obtain a wholesale license. You can apply for the license via the California Board of Equalization (BOE). Alternatively, you can use a simplified ordering process offered by FastFilings.com.
While you can apply through the state, the process is usually prolonged. There is tedious paperwork you have to fill and all manner of red tape that will waste your precious time.
FastFilings.com brings you a straightforward ordering process that will help you obtain your wholesale license much faster. Here’s the three simple steps process;
Step 1: Gather All Your Information
Personal Information – ID number, email address, social security number and personal references.
Business Information – business ID number, bank account info and supplier information
Step 2: Fill Out an Online Form
Proceed to enter your personal and business information in a secure form. When the need arises, we may contact you for clarification or additional information.
Step 3: Sit Tight and Wait for Your Permit
After completing the application for the wholesale license, we’ll notify you of the status. Once your application gets processed, we’ll send you the permit right away.
Obtaining a wholesale license shouldn’t be hard thanks to the three-step ordering process offered by FastFilings.com. A wholesale comes with benefits the main one being the ability to purchase taxable products at a discounted prices.