What types of taxes do I need to pay as a small business owner?

As a small business owner in Florida, you will need to pay a range of taxes. This includes both federal taxes and Florida state taxes. Federal taxes include income tax. This is the tax you pay on your business profits. You also have to pay self-employment tax if you are self-employed. This includes both Medicare and Social Security taxes. You may also have to pay excise taxes depending on the type of business you own. These taxes are usually based on the production or sale of certain goods. At the state level, you will need to pay sales tax on anything your business sells. You may also need to pay state income taxes, franchise taxes, and additional taxes depending on the type of business you’re running. Finally, you may also need to pay local taxes such as property taxes. These vary from county to county so it’s important to check with your local government to find out what taxes you need to pay. It’s important to keep up on your taxes as a small business owner. Making sure you pay the right taxes is essential for staying compliant and ensuring the success of your business.

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What types of taxes do I need to pay as a small business owner?

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