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Hobby license ?
Posted by: Ed Carr (---.stkn.dial.netzero.com)
Date: January 31, 2005 09:15PM

I'm in calif. and a friend of mine has been building rods for years on a hobby lic. He isn't real book smart but he has been doing it for years. He is always vague on how it works anybody have any knowledge of this.

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Re: Hobby license ?
Posted by: Anonymous User (Moderator)
Date: January 31, 2005 09:23PM

No such thing as far as the IRS is concerned. If he builds and sells rods, he is liable for the Sportsfishing Excise Tax. As far as a California business license, they may well offer something that precludes him from having to have a standard resale license. I would suspect he must still pay state sales tax. Why not contact the California Department of Revenue and just ask them what is involved.

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Re: Hobby license ?
Posted by: Ed Carr (---.stkn.dial.netzero.com)
Date: January 31, 2005 09:35PM

Thanks Tom I was just going to do a goggle search and see what I come up with. I think my friend claims a loss every year. I know as slow as I work I'm paying for the right to build rods. Best thing I've done since I started building is to stop watching the clock, for me its all about the work not how long it takes to do it. I still have a regular job I build rods to keep me from doing yard work. LOL ED...

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Re: Hobby license ?
Posted by: Robert Huisman (---.cpe.ga.charter.com)
Date: January 31, 2005 09:39PM

He's also responsible to IRS for the Income.

Income from hobbies get treated differently by IRS, but in a negative way, in that they may decide that an operation is a hobby, not a business and disallow certain deductions.

Unless there is some special quirk in the California sales tax statues, which it being California I seriously doubt exists, there is no such thing as a hobby license.

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Re: Hobby license ?
Posted by: Ed Carr (---.stkn.dial.netzero.com)
Date: January 31, 2005 09:48PM

I found some information under hobby business. I didn't read anything yet wanted to post this thread. Thanks ED..

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Re: Hobby license ?
Posted by: Anonymous User (Moderator)
Date: January 31, 2005 09:48PM

Even if he loses money, the IRS will still require that he pay excise tax on every rod sold.

I know that one time in NC you could obtain a "small business status" license that would reduce your state sales tax filing from monthly to quarterly, but that's about all it did. Since then, everything moved to quarterly.

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