Should kids pay taxes on a lemonade stand?

Each summer, entrepreneurial kids will hit the driveways of America selling cookies and lemonade to passersby. Little thought is given to the legalities and regulations of this rite of passage because, after all, they’re just kids, right? At the 2011 US Open in Bethesa, Maryland, a group of kids decided to have a lemonade stand in hopes of earning some money.  They were shut down because they didn’t pay the $500 vendor fee. Meanwhile, other (older) entrepreneurs who paid $300 for land use permits continued collecting $60 parking fees so that they could have cars parked on their lawns. After Read More…