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Topic: Vendor Permits?  (Read 2320 times)
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« on: August 11, 2005 09:33:32 AM »

I want to participate in a number of craft show's this year (most church basements and school gyms) and I would like to get more involved in bigger show and fairs next summer, but I haven't registered a business and what wondering if they makes a difference to show co-ordinators.  I went to a small business lecture and was told there that you can be fined if you don't have a vendor's permit(if you get caught), has this ever happened to anyone?
The only reason I haven't registered my business is because of the tax implications that come with it (I'm a student and get a nice size Income tax return and I dont what to loose that.  I'm not sure if one would effect the other I just dont want to risk it)
Thanks for any throughts/ suggestions that you could give me!!

« Reply #1 on: August 11, 2005 12:37:27 PM »

I'd recommend talking to an accountant and seeing what the implications are on your taxes.  It's not likely that you will be making thousands of dollars at these events that it will effect your taxes that much - but do you really want to chance being caught without it?  A vendor's permit is free, and as far as I know if you use your name you don't have to register a business.

And a permit may not make a difference at small shows, but most of the applications for larger ones make mention of it and require you to have one, so if you don't they are not liable if you get caught.

www.RJBeads.etsy.com - beads and jewelry making supplies! **SALE ALERT**

« Reply #2 on: August 15, 2005 08:25:52 AM »

Apparently, and not as a definite, you're only obligated to obtain a vendor's permit if your business pulls over a certain amount every year, something like 20-30 thousand dollars... definitely post in the business thread about this - there are surely tons of people who can offer good advice. I was also wondering about this recently!
« Reply #3 on: August 15, 2005 04:31:45 PM »

Thanks for the info

A heart Apart I posted this question in the business section to see if I would get a better response, so be sure to check any responses to help you out!

« Reply #4 on: August 16, 2005 07:27:38 AM »

Here's what the gov't says:

You must obtain an RST Vendor Permit if:
you regularly sell taxable goods
you regularly provide taxable services
you are a manufacturing contractor, that is, the manufactured cost of goods
you are a non-resident contractor doing business in Ontario
you sell taxable goods or services at flea markets, fairs or exhibitions
you regularly import taxable goods or taxable services into Ontario for your own use
you purchase goods exempt from RST that you plan to resell, but later take these goods from inventory for your own use.

You must register for a Vendor Permit even if your sales are small - there is no minimum.

found on: http://www.trd.fin.gov.on.ca/userfiles/page_attachments/Library/3/Rsie_sb901.htm#B3

It's been a while since I looked up this info for myself, but the under 30k applies to either having a BIN, or more likely charging GST.

www.RJBeads.etsy.com - beads and jewelry making supplies! **SALE ALERT**

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