Selling Axolotls in America?

[Munchausen]

I want to breed and sell axolotls. I have 3 young females, one of which has already started making eggs, a young male, and an older male. Has anyone here breed axolotls before? I was thinking of selling them to local mom and pop pet stores. I have a thousand questions, like, is it legal? profitable? how do I set up the books of the business, so that I can differentiate between costs of maintaining my first pet axolotl and the other ones in the "business"? I have helped raise axolotls from babies before, but the only real questions I have are the legal and accounting side of the business.

 

[michael]

You will have to pay state sales tax and federal income tax on the money you make. Rules for setting up a business selling amphibians are different for different states and municipalities. You have to find out the regs for your state and city, borough, or county.

For Penna. I have a State sales tax number, a Reptile and Amphibian dealer license with the Dept. of Ag. and a Reptile and Amphibian Artificial Propagation license with the dept of Ag. I also sell amphibians in Md. and N Y and have state sales tax permits for both of those states. I file and pay sales tax quarterly to semiannually for each state I sell in. I pay state and federal income taxes on the business annually when I pay my regular income tax. If you make a lot of money you might be required to pay state and federal tax quarterly to semiannually. I have my books gone over once a year by an accountant. Starting up you might need to see an accountant more than once a year. I keep track of expenses and amortize breeding stock.

 

[Coastal Groovin]

Most importantly you can't sell or own them in CA and NJ without getting a big fat fine.

 

[Jennewt]

If you only want to breed and sell a few locally, you may be able to consider this a hobby rather than a business. You should first assess whether there is a local market to sell a significant number, or just a few. And decide if you will be willing to ship them, which would greatly increase your market.

The IRS allows you to make a nominal amount of money from a hobby without declaring it a business. But you MUST declare it to be a business if (1) You intend to make money and conduct it like a business or (2) You make a profit for a certain number of years (you'd need to read the regs yourself, I don't remember how many years). So you could probably get away with doing what you are proposing as a hobby, at least for a while. The usual disclaimers: read the IRS rules yourself, don't take my word for it! I accept no liability if I am wrong about this advice!

I have declared my sales of offspring as a business. I don't use an accountant, but I'm sure I'm losing lots of deductions by not doing so. I didn't bother to convert my pets and equipment to business assets.

 

[michael]

If you only want to breed and sell a few locally, you may be able to consider this a hobby rather than a business.

In Pa. to sell any animals to a pet store or at a reptile show you need the tax number, breeder permit, and sales permit. Regs vary by state.

 

[dbuckle2]

Do you know of any places in Northern VA that sell Axolotl?

 

[ltldawny30]

Just stopping by to say Hello Michael. Nice to see you here.