Do you want to start an antique business and you need a license? If YES, here is a 6-step guide on how to get an antique dealer’s license.
In the United States of America, any business that deals in antiques and collectibles, such as coins, jewelry, books, figurines and memorabilia et al are highly regulated hence the need for them to obtain a license before they can legally operate.
Antique business is considered delicate because it is involved in the sale of ancient and well – kept stuffs, which is why the business is subjected to regular inspection by relevant officials. This was put in place to guard against people breaking into museums to steal items.
If you run an antique store business in the United States of America, you are expected to comply with the rules and regulations of the industry. This goes to show that all antique dealers in the United States of America are mandated by law to apply and obtain antique dealer’s license before they can legally sell antiques.
This license is not restricted to brick and mortar stores but also involves those who have online antique stores. So, if you are interested in legally running an antique store or becoming an antique dealer in the United States of America, here are some of the basic steps you need to take to achieve your goal;
Steps to Get an Antique Dealer’s License
Step 1: Know The Existing Law Governing The Antiques and Collectibles Industry
The first step to take when it comes to becoming a licensed antique dealer is to know the existing laws governing antique dealers operating your city.
You need to be well – informed before applying for your license. One major step you need to take in order to get the required information is to visit the Department of Consumer and Regulatory Affairs, Art and Culture Division. They will be more than ready to assist you.
Step 2: Register a Business
Come to think of it, no one will give you a license to operate a business that is not registered yet. In essence, if you have conducted your findings and you are game when it comes to operating an antique dealership business, then you are expected to register your business.
Please note that whether your organization is a corporation, limited liability company, partnership, or in some cases, a trust, the said organization must be registered with the Corporations Division. For more information, including assistance with completing the application process, you are expected to contact the Corporations Affairs Division in your state.
You will be required to obtaining a Federal Tax Identification Number before you can be issued an antique dealership license. Interestingly, applications are available online at the Internal Revenue Service website.
Step 4: Secure a Store Facility
The next step when it comes to becoming a licensed antique dealer in the United States of America is to secure a store facility. This is pretty important and can be done alongside registering your business because you would need a physical address when registering your business.
As a matter of fact, all applicants for a Basic Business License for the Street Vendor A category must be inspected by and/or receive approval to operate from the Department of Consumer and Regulatory Affairs, Vending Division. You are expected to construct your store facility to fit into the requirements in terms of health, fire safety and hygiene before you can qualify to become a licensed antique dealer in the United States.
Step 5: Apply for an Antique Dealer’s License
If your antique store facility has been inspected and you have gotten approval from the regulatory body, it means that the coast is clear and you can go ahead to apply for an antique dealer’s license. The basic things you need to have in place before applying are a business registration certificate, a store facility or online store web address, application fee and form.
Fill out and submit the licensing application. You will also need to supply your Federal Tax Identification Number. Some applications ask that you describe your inventory in detail or assign an estimated value to your inventory. It is important to state that every state in the US has its own requirements when it comes to issuing an antique dealer’s license.
You can check with local professional associations in your city. You may also be able to find information on licensing requirements through a local association, such as the Antique Dealers Association of Maryland or the Minnesota Antiques Dealers Association.
Step 6: Pay Your Licensing Fee
The last step to take is to pay your licensing fee. Most applications will require a nominal licensing fee usually between $18 and $50. In larger municipalities, fees may be as much as $250.
Please it is important to state that some states have less stringent requirements when it comes to applying and obtaining an antique dealer’s license. Which is why some regions require a specific license, while other regions have a broader license. Chicago, for example, requires antique dealers to obtain a Limited Business License.
Please note that while some states in the United States may have their licensing requirements listed on their websites, others may not. Hence the need to put a phone call to your local agency to find out what type of license may be required to operate an antique store and how to go about obtaining one.