B250 2/16/2017

This week was what I would consider maybe one of the most important topics of the semester, that is the Legal Structure, forms, fees and applications. This week was loaded down with very difficult but note worthy and real life stuff. After figuring out that I wanted to be a sole proprietorship I filled out the forms on the idaho.gov website and the Idaho Business Registration Website and in turn became a sole proprietorship recognized by the state of Idaho as Burns Outdoor Supply Co, operating legally. Now if I make any profit from this business there will be a 7.4% tax rate on each product which means that if I am selling a product for 20 dollars I am going to have to charge 1.48 for tax and another nine or so dollars to ship. I figured a solution to this list by adding the tax automatically into the overall cost and charging the shipping fee afterwords.


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