Is EIN Free?

Overview of EIN Application Process An Employer Identification Number (EIN) is a nine-digit number that identifies your company with the IRS. Once you establish an EIN, your business can use the number to pay both federal and state taxes. You may apply for an EIN online if your principal business is located in the United … Read more

How Do You Value Dry Cleaners? Dry Cleaning Industry Insights

Dry cleaning uses liquid solvents to clean clothes instead of water and detergent. It is essential for delicates like wool and silk that should not be heat dried. The industry uses metrics to benchmark performance: Repeat Customers, Total business customers, Customer Acquisition Cost, Customer Lifetime Value, Operating Profit Margin and Net Sales. Business Performance and … Read more

Are Socks Taxable? State Sales Tax on Clothing and Footwear

Most states tax the sale of shoes and socks. Some states exempt clothing and footwear, such as New Jersey, Rhode Island, and Vermont, which exempt general use clothing and footwear. Taxable and Exempt Items Accessories, equipment, protective equipment, and sports clothing are taxable in Vermont. Clothing over $175 is taxable in some states. For example, … Read more