A resale license, also known as a seller’s permit or sales tax permit, is a legal requirement for businesses that sell tangible personal property. It allows businesses to collect sales tax from their customers and remit it to the appropriate taxing authority. Applying for a resale license is a relatively simple process, but it is important to do so correctly to avoid penalties.
There are many benefits to obtaining a resale license. First, it allows businesses to avoid paying sales tax on their purchases of inventory. Second, it can help businesses to build relationships with their suppliers, as many suppliers offer discounts to businesses that have a resale license. Finally, it can help businesses to stay compliant with the law.