Seller's Permit

Obtaining a seller's permit/sale's tax permit is harder than I thought it would be! I was so confused...

The application was easy to fill out, but there were two things we did not expect. First, as a corporation or LLC, after you file for the article of organization with the secretary of state, you have to refile within 90 days for a statement of information. We did not do that! OOPS... so that cost us $250 for a late filing =(. You have to include your statement of information with the application for the seller's permit. Second, you have to take aside some money from your venture capital to deposit to the state for tax purposes. They require that you put aside some money either through a cash deposit, a savings account, our surety bond in case you do not pay them taxes. It's kind of like a safety leash for them, just in case you are a shady business person. The amount of money will probably be in the thousands. That was quite a surprise for me, so make sure you allow some money in your bank account for that!