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Cottage Law vs Taxes on Income

This topic contains 2 replies, has 1 voice, and was last updated by  David Crabill 7 years, 8 months ago.

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    If I am operating under the new OK state cottage law and selling baked goods from my home (no fresh fruit, and making under $20k/year) am I required to get any kind of business license or permit for tax purposes? Do I have to report anything for taxes?



    Do I actually need an LLC or Tax ID if I am just operating under the Cottage law?


    David Crabill

    You definitely need to pay income taxes and you don’t need an LLC or tax ID. You may or may not need to get a business license — call up your planning division to find out. If you do not need to get a business license, then the state will classify you as a sole proprietorship by default.

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