So you’re ready to become a reseller and make money from home online, great! Before you can begin bidding and buying on B-Stock, you must submit a resale certificate with a sales tax number. This is a mandatory step in our application process. It shows that you are a business and intend to resell the items you purchase, but it also does more.
Why do you need a resale certificate?
The purpose of having a resale certificate is to allow you to buy goods through your business without paying local sales tax at the time of purchase. It’s then your responsibility to collect the tax from your customer when you sell the item. It benefits your business by allowing you to avoid sales tax and pass those savings on to your customer. It can also allow you to buy more merchandise to grow your business.
What’s on this certificate?
A resale certificate can be called different names depending on which form you use or which state your business is registered. Additional names for resale certificates include a reseller’s certificate, reseller’s license, resale license, or a sales tax exemption certificate. So check to see if you may have one of these already.
A resale certificate typically states the name and address of you – the buyer-, your sales tax number, seller information (which we request you leave blank due to the number of different retailers on our Sourcing Network), a description of the items being purchased, and a statement that the inventory is being purchased for resale.
So, where can I get one?
It is your responsibility as the buyer to do your due diligence and comply with federal and state laws. We recommend visiting your individual state’s Department of Revenue website to learn more about resale certificates. They will be able to provide you with instructions on how to acquire a sales tax number in your area.
Please visit this link to find out which form B-Stock accepts for your state.
Other helpful sites we like are TaxJar for an individual state sales tax guide and Avalara for sales tax education and resources.
**If your business is registered in Alaska, Delaware, Montana, New Hampshire or Oregon, this is not required as part of your application.
Start Sourcing on B-Stock
Once you get that resale certificate you’ll be on your way to a successful reselling business! Use B-Stock to meet all your inventory sourcing needs. Learn more about buying return pallets, or the best sites to start reselling your inventory today! Don’t forget, you will need to register on individual retailers’ marketplaces that you are interested in.
Source: https://bstock.com/blog/buying-basics-resale-certificates/