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| Business Taxes |
| Business Taxes
The form of business you operate determines what taxes you must pay and how you pay them. The following are the four general types of business taxes. |
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business , tax , taxes |
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| Sales |
| Sales taxes are added to the cost of a product or service and are generally paid by the customer.Use taxes are generally levied on the sales price or rental charge for tangible personal property on which no sales tax has been paid. |
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salestax |
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| Local |
| Local authorities may tax personal property like machinery, equipment, furniture, supplies, leased equipment, and even movable machinery used in a business. |
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localtax |
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| State |
| Every state levies some form of tax on small businesses, but in some states some business structuress (especially sole proprietorships) have little to no tax imposed. |
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statetax |
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| Self-Employment |
| Self-employment tax is a social security and Medicare tax for individuals who work for themselves, similar to social security and Medicare taxes withheld from the pay of wage earners. |
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selfemploymenttax |
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