Paying-Business-Taxes

If your new business generates income, owns property, buy goods, or hire employees, you will most likely have to pay taxes. Many resources are available when it comes to understanding taxes. It is important to the success of your business that you pay only your fair share.

Business Taxes

Depending upon what form of business you operate determines what taxes you must pay and how you pay them. Income Tax, Self-Employment Tax, Employment Tax, Excise are just a few.

Employer ID Numbers (EINs) - www.irs.gov

The resources in this section provide a full explanation about the EIN, also known as a federal tax identification number. LEARN MORE....

Employment Taxes for Businesses

If you have employees, you are responsible for several federal, state, and local taxes. As an employer, you must withhold Federal income tax withholding, social security and Medicare taxes, and Federal Unemployment Tax Act (FUTA) taxes. www.irs.gov

Self-Employed Individuals or Independent Contractors - www.irs.gov/businesses/small/article

Information helpful in answering many questions related to being self-employed individuals or independent contractors.

State Taxes -

Find out if and how much state tax you need to pay. state by state legal requirements.

Local Taxes

Find out if and how much local tax you need to pay.

e-file for Business and Self-Employed Taxpayers - www.irs.gov/efile/article

Electronic filing and payment options for businesses including employment taxes, information returns, partnerships, corporations, and estates & trusts. Certain large corporations are now required to e-file their returns.

Where To File - www.irs.gov/file/index.html

Where To File, Where to File Addresses, Where to File Addresses for Individual Taxpayers By State, Where to file addresses by state for Individual Taxpayers for use during 2005.

Forms and Publications - www.irs.gov/formspubs/

The official source of IRS tax products.

The Electronic Federal Tax Payment System (EFTPS) - www.irs.gov/efile/article

EFTPS is a tax payment system provided free by the U.S. Department of Treasury. Pay federal taxes electronically - on-line or by phone 24/7.