Whenever establishing a company, you will need to consider which type of Business Structure to build. Your main kind of business Business Structure (e.g, sole proprietorship, partnership, LLC) dictates which income tax return form you will need to file.
The government levies four simple kinds of business taxes:
Taxes for employers
to find out more about these types of taxes, visit the Internal Revenue Service’s (IRS) Guide to Business Taxes.
Federal Income Taxes
Choose the Business Structure of your company below to learn which federal government tax forms you will have to file :
Limited Liability Company ( LLC )
State Income Taxes
Almost every state levies a business or corporate income tax . Similar to federal taxes, your state tax requirement varies according to the legal structure of your company. For instance, in the event your company is an LLC, the LLC is taxed separately from the business owners of the business, while sole proprietors report their personal and company income taxes using the same exact form used to report their company taxes.
Be sure to check out Legalzoom.com to get the forms you need to set up your Business Structure.