I'm trying to start my first business, and I don't know where to start on the legal side of things. I plan on selling vintage clothes to help pay my way through college. Do I need a sellers permit, what type of business structure, do I get an EIN, or anything else? Any advice would be greatly appreciated!
HI @RM3
Do you plan to run your business as a sole prop, or are you looking to incorporate? I'm not sure what your end goal is going to be with this, and its ideally up to you how you structure your business.
Is this going to be a long term business or is it just until your college is over? If this is going to be a long term business, it may be worth starting out as a SoleP, and and then changing structure later on down the road.
Since you are in college, how is your personal credit? (will you need funding,etc) A bit personal, and you don't need to answer, but if you have good credit it will help in funding your business. Companies like Amex offer business credit cards for solep, but like with most business bank cards (only 2 that I am aware of that don;t, the all will do a Hard pull on your personal credit. Always check for pre-qualify on their website first before doing the actual application.
Here is a good starting reference for Texas business. Let us know your thoughts.
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