All businesses are subject to federal, state, and local taxes.
💸 State Tax Requirements
All businesses are required to submit a Business Income Tax statement annually. Businesses can obtain relevant state tax forms from the State of California Franchise Tax Board. There are many factors to consider when filing taxes for your business, including industry and business structure. To understand your specific state tax requirements, check the California Franchise Tax Board.
💰 Federal Tax Requirements
Your business structure determines what taxes you must pay and how you pay them. Check out these resources from the Internal Revenue Service (IRS) to ensure that you file for your business correctly.
If your business employs anyone, you must also file for an Employer Identification Number (EIN) through the IRS.