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    7 Replies Latest reply on Jun 18, 2010 4:17 PM by moneymom

    Starting online sole proprietorship?

    SmokedOysters Newbie
      For the past year or so I've been running an unofficial (that is, unlicensed) hobby business online selling tabletop gaming materials and offering a commission model painting service. Recently I've been looking into getting a wholesale contract in order to increase sales and profits, however the companies that offer such contracts require applicants to have licensed businesses, tax IDs, etc. So, this led me to think I should just formally register my business and get the benefits that come along with that, and then also the ability to expand more with wholesale contracts and other things.

      So, my question is, what exactly do I have to DO in order to get a business license (I live in MN) for an online business? I believe I desire a sole proprietorship setup, since from what I understand it is very simple, and I am, after all, the only person who would be in the business. Here's some other questions,

      • How much am I looking to have to pay to become official?
      • Wholesalers want a "Federal ID" -- is this part of the "business license?" Is a "business license" a general term for something for specific?
      • Where do I go to actually register and obtain a license? Can I do it all online?
      • Does being purely Internet-fronted affect anything? There will be no physical location of my business, besides my home (where it will be run from, obviously).

      And, finally, is this even possible if I am a minor (which happens to be the case)? Do I just have to have a co-signer or something?

      Thanks to anyone willing to help me with this.