Your federal tax id number is issued to corporations, businesses, estates, trusts, and partnerships by filing form SS-4 with the IRS. Sole proprieterships reporting income on schedules C, F, or E typically use the owners social security number. Resale numbers and certificates deal with your state's sales taxes, if applicable. At least here, farm equipment used for farming purposes for food animals is tax exempt. But, as a seller/reseller you would be responsible for collecting sales taxes or the appropriate exempt forms. Here, at least, services are not taxable for sales tax so a lot of shops/people pay the sales tax when purchased or on their state tax return at the end of the year and any mark up on parts is 'hauling' or some other item not subject to sales tax. None of this is offered as tax advice, just my understanding of what my accountant told me that applies to my own situation. I'm a sole proprietership, reporting every penny on schedules D,E, or F who pays sales tax on all resale items reported on state returns at the end of the year.
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Today's Featured Article - A Farmall Story - by Ed Meadors. The year was 1978. Our young family had recently moved to rural Chesapeake, Virginia to a plot of land which would finally allow us to realize our dreams of a huge garden, critters and more lawn and pasture than we would ever use! We needed a TRACTOR; not a riding mower or tractor wannabe, but a real TRACTOR. The answer to our needs materialized in the form of a '44 Farmall A, complete with cultivators, discs, single plow, a 5ft.Woods belly mower and one, mounted spare 9.00x24 rear wheel.
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