You can buy from a wholesaler and pay the excise tax to them and be ok as long as you dont change what you buy.For example you can buy hooks and pay the excise tax when you buy them,but if you put lead on them or tie anything to them and resale it,then you owe the excise tax for it.
You can be listed as a sole prop but unless you have a 637 tax number and are filing a 727 each quarter then you are not running 100 percent leagl and can be fined if caught.Also it doesnt matter if you sale just a diollar or several doallars they still want there cut.