Unregistered 02:19 PM 02-11-2014
This is my first year in the business. I recently found out while working on my state taxes that I need a mn tax id number in addition to my ein number. I have a llc partnership home daycare business. When I went to Minnesota's website to file for a tax id number it asks me what types of taxes I need to file for my business? It lists sales and use, use only, withholding... Does anyone know or would be able to help me figure this out? Thanks.
TomCopeland 11:44 AM 02-12-2014
Originally Posted by Unregistered:
This is my first year in the business. I recently found out while working on my state taxes that I need a mn tax id number in addition to my ein number. I have a llc partnership home daycare business. When I went to Minnesota's website to file for a tax id number it asks me what types of taxes I need to file for my business? It lists sales and use, use only, withholding... Does anyone know or would be able to help me figure this out? Thanks.
Choose sales and use tax.
Thanks Tom!
I have one more question, if you could please answer.
Because I choose sales and use tax, does that mean I should be paying in a sales tax on each check I receive from parents for care? Or when do I pay a sales and use tax to Minnesota?
TomCopeland 02:39 PM 02-14-2014
Originally Posted by TTT:
Thanks Tom!
I have one more question, if you could please answer.
Because I choose sales and use tax, does that mean I should be paying in a sales tax on each check I receive from parents for care? Or when do I pay a sales and use tax to Minnesota?
No. You are offering a service and so that is considered a "use." You only owe state income tax on your profit, because you are self employed.