Tax responsibilitiesQuestion What are the primary tax responsibilites of a small business?
Answer As a small business owner, your tax reporting and paying obligations are broad.
Not only do you have to pay income taxes and file tax returns, but you also must manage payroll taxes for any employees you may have, plus collect and report state and local taxes, including sales tax. Finally, you may have to notify the IRS of certain activities on information returns. 
Brain Trust contributor:
Author of J.K. Lasser's Small Business Taxes 2007
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