Stay on Top of Tax Requirements
What taxes apply to my business?
Your business will need to meet federal, state, and local tax requirements. These requirements will depend on your business structure and location.
What are my federal tax obligations?
Your business structure determines what federal taxes you must pay and how you pay them. Some of the taxes require payment throughout the year, so it’s important to know your tax obligations before the end of your tax year.
There are five general types of business taxes:
- Income tax
- Self-employment tax
- Estimated tax
- Employer tax
- Excise tax Each category of business tax might have special rules, qualifications, or IRS forms you need to file. Check with the IRS to see which business taxes apply to you.
If your business has employees, you might be required to withhold taxes from their paychecks. Federal employment taxes include income, Social Security and Medicare, unemployment, and self-employment taxes. Check with the IRS to see which taxes you need to withhold.
What are my state tax obligations?
A sales and use tax account will be automatically assigned to you as part of the business license process. For more information visit Sales and Use Tax page on the City of Commerce City website.