Wholesale is a very important link between the production industry and the retail industry. A wholesaler buys goods, products and materials from a manufacturer and then sells them to a retailer. If you would like to be in a business that supplies retailers, you may want to know how to obtain a wholesale license. Getting a wholesale license in Idaho has a slightly different process than in other states. There are specific conditions in the licensing process that you need to fulfill. Once you obtain your wholesale license, your wholesale business is legitimate and ready to start.
Create a business plan for your wholesale business. Define your company and explain in detail information such as what products are you planning to sell in wholesale, how you are going to finance your company, what are your marketing strategies, who is your target audience and how are you going to hire your employees. The business plan is a summary of what your wholesale business is about.
Register your wholesale business name. Fill out the Assumed Business Name form, which is provided by the office of the Idaho Secretary of State and is available on their website.
Get a business license for your wholesale business. This is required for all businesses in Idaho. Visit the Idaho Business website and go to the Idaho Business Registration System page. Using the system, you will be able to register your wholesale business with Idaho State Tax Commission, Idaho Industrial Commission and Idaho Commerce and Labor departments.
Acquire an Federal Tax ID. You can apply for the federal tax ID through the Idaho Tax Commission website.
Apply for the wholesale license at the Idaho Tax Commission. A wholesale license is also known as the Resale Tax ID number. You can call the Tax Commission via the number listed on their website to and request that they fax you the appropriate form.
Fill out the form. You'll need your business name, EIN and a copy of an official state ID card or driver's license.
Take the form to a notary and get the form notarized.
Fax the form back the the Idaho tax commission via the fax number listed on their website.
You won't receive your wholesale license overnight, so it's a good idea to start the application process at least five weeks before you want to start doing business.