STEP FIVE

Obtaining Necessary Tax Information

Taxation for small businesses may be simple or complex, depending on the size and business structure. The tax liability for each business will be different and you should consult your attorney and accountant regarding comprehensive tax planning.

Employer reporting requirements and responsibilities

As an employer, you will be responsible for additional employment insurance and worker’s compensation insurance. This includes applying for federal and state withholding numbers.

• For Federal Identification Numbers (EINs) contact the Internal Revenue Service or call (800) 829-4933
• For State Sales Tax and State Withholding Tax contact the State Department of Revenue.