The McGraw-Hill 36-Hour Course: Real Estate Investing, Second Edition (McGraw-Hill 36-Hour Courses) by Jack Cummings

Author:Jack Cummings [Cummings, Jack]
Language: eng
Format: mobi
Publisher: McGraw-Hill
Published: 2010-07-25T14:00:00+00:00

Wholesale vendors, which would likely include landscape nurseries, generally do not sell directly to the public, but for a real estate developer and investor, the situation changes. All it may take to have access to the wholesale marketplace (not just for landscaping but for all building materials as well as interior decorations and other products) may be a city occupational license and a state sales tax number. The usual requirement to get a city occupational license is to have a business address (in a zoning that permits business locations) and to meet other simple requirements for the type of license. Prior to showing up at the city occupational license office, it would be a good idea to check the requirements for different categories of professional licenses. Usually there are no special requirements, such as state tests or other educational qualifications, for occupational licenses for the following: interior decorators, remodeling counselors, and providers of landscape decorations, painting services, and the like.

The state sales tax number is obtained through the local state sales tax office—check with your state revenue department for the requirements. Once a state sales tax number is obtained, periodic reports may need to be filed, but having this number will allow the holder to buy wholesale and not to pay the state tax (depending on state rules on certain items or services) for “pass-through items” that are going to be resold. Even if the investor elects or is required to pay the state tax, many wholesale operations use the state sales tax number to distinguish qualified buyers from people looking to avoid paying sales tax.

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