Identifying Federal, State, & Local Taxes

  1. Federal
  2. State
  3. Local

Federal Tax Information

All businesses are subject to taxation by the Federal Government. Most businesses must apply for a Federal Employment Identification Number (EIN) from the Internal Revenue Service. A business owner must also withhold Federal Income Tax and Social Security taxes from his/her employees as well as contribute the employer’s share of Social Security and Federal Unemployment Taxes. For more information, visit the Internal Revenue Service website.

Recommendations

It is strongly recommended that you consult an accountant for precise advice relevant to taxes and your business.