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Small Business Owner Basics - Beyond Income Taxes
Business taxes vary from state to state, county to county and city to city but in most areas, the following represent some of the most common taxes – in addition to income taxes – that a small business owner is likely to encounter.
State sales taxes
Business franchise taxes
Employee withholding taxes
Social Security contribution
Unemployment and workers’ compensation.
County business personal property tax
City business taxes and fees
Small business taxes originate many different agencies and different levels of government so to keep it as simple as possible, try to obtain all the information from one source. A good place to begin is the local Small Business Development Center (SBDC.) or the Department of Revenue at your state, county and city. If you still aren’t sure what taxes you are responsible for when doing business in your state, contact a PCG representative today. They will be happy to assist in helping you decipher the complex world of small business taxes.
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