Taxes
Taxation for small businesses may be simple or complex, depending on the size and business structure. Specific tax liability for each type of business is different and you should consult your attorney and accountant regarding comprehensive tax planning for your business.
Register your business here to pay state
taxes
for sales tax, use tax, and employee withholding, and/or machinery and equipment taxes.
Unlike federal income taxes, no pre-registration is required for businesses to pay state income
taxes.
- Sole proprietors file and pay income tax using their social security number. More on sole proprietors and income taxes.
- Partnerships file and pay income tax using their federal identification number. More on partnership income taxes.
- Corporation income taxes differ depending on several factors. More on corporations and income taxes.
- Limited Liability Companies (LLCs) are not taxed as a separate entity. Members pay through their personal income tax. More on LLCs and income taxes.
The IRS requires that every employer who pays wages to one or more employees file an application for an Employer Identification Number or EIN.
You may apply online (Form SS-4) or contact the IRS. Internal Revenue Service Center: Toll-free: (800) 829-4933.
As a business owner, you are responsible for listing your business personal property with the County Tax Assessor's Office. You must also provide the assessor with
information concerning any real property improvements such as the addition of a new structure.
Visit the N.C. Department of Revenue for a list
of
the major state business taxes.
More Resources
