Were do you file for the permit to be a manufactor ?
I read some of those links but did not see ( file here )
What about when you buy products to use to make the bait, hooks, do-it molds ect. we do not pay tax to get the items, do we also have to pay tax to someone when this all comes down ?
Do you get to deduct the cost of material on what it cost to make the bait before you get the total selling profit ?
say you sell a bait for $10, it cost $7 for material, profit $3 ?
Does Uncle sam gets $1 or gets $.30 ?
Or is that when you file taxes at the end of the year that you get to claim cost ?