Business / TaxID
What is this?
HTML Graphics Marketplace requires a valid BusinessID when making purchases.
Why is this needed?
Short answer: for tax compliance.
- collect address information of each buyer and depending on their location they will need to apply a sales tax or VAT to product prices according to buyers location (there are 32'000 tax regions in the world)
- calculate and report purchases of each region
- register themselves as tax paying businesses on those regions
- pay taxes to regions when certain limits (called "nexus") are exceeded
When selling to verified businesses all this goes away. We have decided to only sell to businesses, that's why you will need to have a valid ID.
Which one should I use?
The business ID verification is provided by our payment processor Stripe and we cannot change it ourselves in any way.
- European companies should use the European VAT number -option (using AB12345678 format; countrycode + tax ID number)
- US based companies should use United States EIN -option
- Other should use their own country option
When adding a number, the system will do a lookup to the local authority and will verify the given ID. This usually takes a couple of seconds, but sometimes the servers of the local authorities may be busy and the reply can take a while. This happens in the background and you do not need to wait for the verification.
If none of these work, we may be able to help my modifying your account in the backend, please contact us and send in your business information. This can however take a day or two so you are encouraged to find the correct option yourself. You can read the Stripe documentation about this.