Taxes and Licenses for Small Business
| Local |
Business License (gross receipt tax)
Merchant's Capital Tax (tax on inventory)
Business Personal Property (machinery, equipment, furniture)
Real Estate
Lodging
Meals |
| State |
Income Tax - Personal and/or Legal Entry
State Corporation Commission Fee - for Corporation, Limited Liability
Company, Limited Liability Partnership, or limited Partnership
Sales & Use Tax
Withholding (State Income Tax from employees' pay)
Unemployment - based on 2.5% of the first $8,000 in pay for each employee
Litter Tax
Contractor's License - for construction and related businesses
Business & Occupational Licenses - required for certain businesses |
| Federal |
Income Tax - Personal and/or Legal Entity
Withholding (Federal Income Tax, 7.65% Social Security & Medicare from employees' pay) |
| Other |
Workers' Compensation Insurance - required if you have three or more employees
Obtain this coverage from your insurance company |
The SBDC is funded by the U.S. Small Business Administration
and Lord Fairfax Community College.
Copyright © 2003, Lord Fairfax Small Business Development Center. All Rights Reserved.
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