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Oklahoma

Cottage Law vs Taxes on Income

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This topic contains 2 replies, has 1 voice, and was last updated by  David Crabill 6 years, 1 month ago.

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  • #4211 Reply

    Danielle

    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?

    #4212 Reply

    Danielle

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

    #4229 Reply

    David Crabill
    Keymaster

    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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