Hognose Breeding Business

Hi all👋🏻

In the future I’m wanting to breed/ sell Hognose and was wondering what the process is to be selling them in terms of not getting into trouble with the IRS, taxes, etc.
I don’t plan on having a large output of snakes starting out due to having a small facility and being picky about genetics. I was more or less wanting to attend reptile shows and sell off of MorphMarket.
This would be more of a hobby….if I’m only making under a certain $ value am I required to have a tax ID?

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:wave: Hello @courtneyrene and welcome to the forum! Your question is beyond my expertise but someone else will come along with advice.
Best of wishes to you and your breeding project plans! I have a hoggie myself and he is a sweetheart! :heart:

Btw we love pictures! :pray::pray::pray:

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Yes, you will likely need one. You need to pay things like state sales tax, self-employment tax (if you make over $400), and I know for a fact PayPal will put a hold on your funds if you have over $600 in Goods & Services transactions due to tax laws.

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The $600 reporting thing for PayPal(and other 3rd party payment platforms) to the IRS got changed recently. I believe it’s not starting until 2024 and it’s changed to $5,000

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Taxes, and even legalities of breeding animals within your city limits, can vary greatly depending on country, state province or even city ordinance.

I’d start by finding out if hognoses are legal to keep where you are, then if anyone is allowed to breed and/or ship live animals out of your town.

If you have even an HOA they may have prohibitions on breeding of animals- any animals- and you might have to wrangle with them to show them this isn’t a goat farm you’re starting.

Also, you may or may not legally be required to disclose to your home insurance that you have a lot of heating equipment (fire risk changes your Rates) and teeeechnically venomous snakes…

If this is still your dream, you may end up moving to a place where you can do it.

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Well then I have a very angry email to send because they’ve currently seized my money. :woman_shrugging:

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I just read an article about it early this past week, something to do with the IRS deciding to change things without much warning it sounded like.

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Yeah, I looked into it and the announcement was made this past Tuesday, after PayPal put a hold on my account. I’m contacting their customer support to see if they’ll release it or I’ll just no longer use either of their platforms.

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Thanks, good to know about paypal! That does cause another wrinkle for small businesses.

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