Legal Question in Business Law in Maryland
I am interested in starting an Amazon FBA by reselling items obtained from various manufactures. I have not done anything yet because I do not quite know where to start. What documents need filing, licenses and certificates needed, EIN numbers and the like. Can somebody help me with this information? Thank you.
1 Answer from Attorneys
If you want to be approved to sell on the Amazon site, the first thing you should do is touch base with them to see what they require for you to qualify. You will also have to decide whether you want to trade as an individual, a limited liability company (LLC) or a small corporation. The advantage of the latter two is that you can seek to protect your personal assets from claims against your business entity, although some companies with which you seek to do business may want a personal guarantee. For an LLC or corporation, you will have to get an EIN # from the IRS (irs.gov). You will also have to register with the MD State Dept of Assessments and Taxation (SDAT). Go on their website to learn the procedure and what forms and filing fees are required. You should also check to see if there are any county licensing requirements, especially if you plan to operate outside your residence. Of course, an attorney experienced in small business matters can handle a lot of this for you, as well as reviewing or creating any business agreements, leases, etc.
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