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Federal and State Tax Information

Federal Taxes
There are three primary types of business taxes at the federal level: income taxes, employment taxes, and excise taxes.  In general, these taxes are determined by the type of business and its legal structure.

Income Taxes
All businesses (except partnerships) must file an annual income tax return.  Federal income tax is a "pay-as-you-go tax, meaning taxes must be paid as income is received throughout the year.  Often, this means making regular payments of estimated taxes during the year.

Employment Taxes
Employment taxes apply to individuals who work for themselves and businesses which have additional employees.  Self-employment taxes contribute to social security system coverage, including retirement and disability benefits as well as Medicare.  For businesses with multiple employees, the employer is responsible for employment taxes including social security and Medicare taxes, federal income taxes, and federal unemployment taxes.

Excise Taxes
Excise taxes may also apply to certain businesses; more information on excise taxes is available from the Internal Revenue Service (IRS).

State Taxes
At the California state level, there are three primary taxing agencies:

The Franchise Tax Board (FTB) administers personal and corporate income and franchise taxes. 

The State Board of Equalization (BOE) issues seller's permits and is responsible for the administration and collection of the states sales and use, fuel, alcohol, tobacco, and other special taxes and fees.

The Employment Development Department (EDD) issues employer account numbers and administers state payroll taxes, including Unemployment Insurance, Employment Training Tax, State Disability Insurance, and California Personal Income Tax withholding.


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