Stealth account future?

gdasa · #1 09-23-2016

Hi,

I have been reading this forum for a week, and learnt so many wonderful things. I was searching for Amazon reinstate solution and found this website to go with stealth.

I have few questions:

#1 - How far can we go with Amazon Stealth account? I mean - in dollar trading amount? Is there any point like I can't sell after certain dollar amount?

#2 - To collect the sales tax on Amazon, it is asking me to update the state registration number. What should I do? I am afraid to put the actual registration number on the stealth account. Is this information shared with State sales tax department?

#3 - In event of amazon account is being hacked or account access lost, how do we regain it? Since the identity can't be proven for stealth account, then is it gone for forever?

#4 - Is it possible to convert stealth account into real business account with LLC set up?

#5 - Lets say during stealth account set up, if the wrong information were provided for company legal name and EIN, then can it be updated in future with a new company legal name and EIN?

#6 - I recently got my Amazon Stealth account set up, and I was told that I won't receive 1099. I am wondering how are they able to skip this process? I thought it is IRS guideline, it requires amazon to generate 1099 over 20k transactions.
Is it because this 1099 might be going to wrong address during stealth account set up process?

Thank you so much for your time!

rsot · #2 09-24-2016

1. Haven't seen that but if you sell a lot quickly without getting feedback, you can get your account "in review" by Amazon.

mysell88 · #3 11-05-2016

OP highlighted some interesting queries that I'm interested to know as well. Would appreciate comments on this as well.

Gamefreak · #4 11-07-2016

I have been reading this forum for a week, and learnt so many wonderful things. I was searching for Amazon reinstate solution and found this website to go with stealth.

I have few questions:

#1 - How far can we go with Amazon Stealth account? I mean - in dollar trading amount? Is there any point like I can't sell after certain dollar amount?

anything is possible as long as its done correctly. All my accounts start off as stealth and doing well over 20k a month

#2 - To collect the sales tax on Amazon, it is asking me to update the state registration number. What should I do? I am afraid to put the actual registration number on the stealth account. Is this information shared with State sales tax department?

Ive never had any issues putting in my sales tac number into amazon. They don't seem to check as i even put i a f@ke one once as i had already used my real one on another account and didnt have any issues.

#3 - In event of amazon account is being hacked or account access lost, how do we regain it? Since the identity can't be proven for stealth account, then is it gone for forever?

cant comment as never had this happen to me before. But because they communicate mostly via email as long as you have access to the email you should be fine.

#4 - Is it possible to convert stealth account into real business account with LLC set up?

LLC, INC whatever u want thats the way to convert stealth into legit tax paying business

#5 - Lets say during stealth account set up, if the wrong information were provided for company legal name and EIN, then can it be updated in future with a new company legal name and EIN?

Yes, once you have legit info from IRS use that info and leave the other info in place. That info is mainly for taxes

#6 - I recently got my Amazon Stealth account set up, and I was told that I won't receive 1099. I am wondering how are they able to skip this process? I thought it is IRS guideline, it requires amazon to generate 1099 over 20k transactions.
Is it because this 1099 might be going to wrong address during stealth account set up process?

If you reach the threshold for the irs guideline then amazon will simply block your ability to sell on its side until you provide the necessary information is requires.
Im guessing you did not reach the threshold. you probably didnt even get close really as amazon starts asking for it pretty early, usually only a few thousands into selling.

mysell88 · #5 11-08-2016

Thanks for the guidance. Since I'm limited to using Payoneer's bank account and credit card, I'm thinking of creating another seller account in my wife's name.

However, if the LLC/DBA is incorporated in just my real name... will the account get into trouble later on? or would Amazon be able to link it to my suspended account in any way?

Of course all other info such as add, phone no is going to be new.