Small Business Taxes

There are 4 general types of small business taxes: income tax, self-employment tax, employment taxes and excise tax.  All small businesses are required to file annual income tax returns, with the exception of partnerships, which file an information return.  A small business is required to pay small business tax as it receives income throughout the year, and may have to do this by making estimated tax payments. Small business owners that work for themselves pay self-employment tax. Employers have taxes to pay and forms to file for employees other than themselves. Excise taxes must also be paid for certain types of activities conducted, equipment used or products or services sold by the small business. For help with questions about small business taxes, please email us.