Help Your Business: Educate Yourself by Learning Tax Law Details for Your State

Get the knowledge you need to
run your business successfully.

Having knowledge of your state tax requirement can help you avoid problems and help your business save money.

The most common types of tax requirements for small business are income taxes and employment taxes.

Income Taxes - Nearly every state levies a business or corporate income tax. Your tax requirement depends on the legal structure of your business. For example, if your business is a Limited Liability Company (LLC), the LLC gets taxed separately from the owners, while sole proprietors report their personal and business income taxes using the same form.

Employment Taxes - In addition to federal employment taxes, business owners with employees are also responsible for paying certain taxes required by the state. All states require payment of state workers' compensation insurance and unemployment insurance taxes. The following states/territories also require a business to pay for temporary disability insurance:

• California
• Hawaii
• New Jersey
• New York
• Rhode Island
• Puerto Rico
      

Follow the link below for state and territory tax resources and to find out more about what you have to do to register and be open for business in your state:
READ MORE >> www.sba.gov (U.S. Small Business Administration): Learn About Your State and Local Tax Obligations

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