Peter 'Happy' Thomas (happypete) wrote,
Peter 'Happy' Thomas

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Gah! Don't forget the sales tax deadline.

January was a very slow sales month, with the lack of daylight, and no artificial lighting set up, the hens basically took the month off.  We did have a couple of sales, though.  Now, selling eggs in Virginia, generally, is extremely simple for small farms.  You don't need a business license [provided you are below certain thresholds of volume and other requirements], similarly, you are not liable for the egg excise tax until you hit a pretty sizable volume of sales.  Though keeping a clean shop is good business, we don't have to submit to USDA or VDACS inspections..  If your farm income [or loss] is going to your 1040 Schedule F, you don't need a Federal Employer Identification Number.  All told, the paperwork requirements are very minimal.

There is one thing, though, that you simply cannot avoid...the governor wants his 2.5% food tax on every sale--and also on all our eggs that go to personal use, for that matter.

No big deal.  My tax bill for January was a whopping $0.20.  Until I missed the filing and payment deadline on Friday, that is.  The minimum penalty for a late filing is $10.00.  No exceptions, no forgiveness, no grace period, no kidding.


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