What kind of requirements do I need to consider in order to import leather goods from Argentina and sell them in the US?

Asked about 1 year ago - Los Angeles, CA

I am planning to import crafted leather handbags from Argentina and sell them via Internet in the US. Each lot of merchandise is worth less than USD2000.
Do I need to have a tax ID number or SSN? I have a non-inmigrant Visa.
Is there any legal requirements I should consider before importing?

Attorney answers (1)

  1. Michael Charles Doland

    Contributor Level 20

    Answered . If your sales are conducted from your presence here in the US you must pay taxes on the gain and you must have a SSN or FEIN to file taxes. You need a CPA at a minimum. You need a good customs broker at a minimum. If you want to do business under a name not your own you need a fictitious business name statement. You may need a local business license. There may be local and/or state taxes to pay on gain or on sales.

    The above is general legal and business analysis. It is not "legal advice" but analysis, and different lawyers may... more

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