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Small Business Tax Information

Learn about business taxes and incentives.

you choose when starting a businessKết quả xổ số hôm nay tốt will determine what taxes you’ll pay and how you pay them. 

Employer Identification Number (EIN) 

Most businesses need an Employer Identification Number (EIN). Your EIN is your federal tax ID number. You should get one right after you register your new business. 

Kết quả xổ số hôm nay tốt, how to get one, what to do if you've lost or misplaced yours, and more.

Income Tax

Most businesses must file and pay federal taxes on any income earned or received during the year. Partnerships, however, file an  but don't pay income taxes. Instead, each partner reports their share of the partnership's profits or loss on their individual tax return. 

Almost every state imposes a business or corporate income tax. However, each state and locality has its own tax laws. Find out the .

Employment Taxes 

Kết quả xổ số hôm nay tốtIf you have employees, there are federal tax requirements for what you must pay and the forms you have to file.These  include:

  • Kết quả xổ số hôm nay tốtSocial Security and Medicare taxes

  • Kết quả xổ số hôm nay tốtFederal income tax withholding

Kết quả xổ số hôm nay tốtFUTA ensures that people can receive unemployment benefits after losing a job. 

Businesses in all states pay state workers’ compensation insurance and unemployment insurance taxes. 

Excise Tax

The federal government taxes businesses that manufacture or sell certain products. If your business uses various types of equipment, facilities, or other products, you may need to pay an excise tax. . 

Property Tax 

Kết quả xổ số hôm nay tốtEach state has a different definition of what property is taxable. Some states collect property tax from businesses in commercial real estate locations. Others collect property tax for vehicles, computer equipment, and other business assets.  The amount of tax you pay is calculated by the total value of the property or on a certain percentage of the value. . 

Sales and Use Tax 

States may tax the sale of goods and services. Check whether your business has to . Exclusions in sales tax often include food, clothing, medicine, newspapers, and utilities. 

Kết quả xổ số hôm nay tốtStates may also tax your business on the use of goods and services when sales tax has not been collected. This typically applies to goods and services purchased outside of the state where you conduct business. 

Estimated Tax 

You must pay federal tax on income that is not subject to withholding. Or, if the amount of your federal income tax being withheld is not enough to cover the taxes you owe, you must pay an estimated tax. Find out if your business has to pay estimated taxes and the steps to follow

Self-Employment Tax 

If you have your own business, you must pay Social Security and Medicare taxes. Otherwise, you won't be covered under the Social Security system. .

and .

When Are Estimated Taxes Due?

The year is divided into four periods to pay estimated tax. Each period has a specific payment deadline.

These are the 2020 Estimated Federal Tax due dates:

  • April 15

  • June 15

  • Sept. 15

  • Jan. 15 of the next year


  • Find out if your state offers a on energy-efficient home appliances.

  • Energy-Saving Home Improvements

    Kết quả xổ số hôm nay tốt for any of these purchases for your home:

    • Kết quả xổ số hôm nay tốtSolar panels

    • Solar water heaters

    • Wind turbines

    • Geothermal heat pumps

    • Kết quả xổ số hôm nay tốtFuel-cell equipment

    Kết quả xổ số hôm nay tốtThese tax credits are valid through 2021. 

    Energy Tax Breaks for 2018 - 2020

    A law passed in December 2019 reauthorized many energy tax breaks that had expired in 2017. They're retroactive to 2018 and extended through 2020 or longer. They include credits for:

    • Energy efficient homes

    • Energy-efficient commercial buildings

    • Nonbusiness energy property

    • Qualified fuel cell vehicles

    • Alternative fuel vehicle refueling property

    • Kết quả xổ số hôm nay tốtEnergy tax incentives for biodiesel and renewable diesel, extended through 2022

    to individuals and businesses hurt by a major disaster or emergency.  

    Get Your Tax Refund Faster After a Disaster

    In a , you can get a faster refund by filing an . You will need to claim the disaster-related losses on your tax return for the previous year.

    Kết quả xổ số hôm nay tốtGet guidance from the IRS on or . 

    Tax Relief for Recent Disasters

    Kết quả xổ số hôm nay tốtGet a list of the .

    . The IRS has specific reporting requirements when a small business donates:  

    • Non-food inventory 
    • Food
    • Intellectual property 

    You won't receive a tax deduction for donating services. But you may be able to deduct expenses related to the donation, like travel or materials.

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    Last Updated: October 28, 2020