legal and regulatory requirements

What Tax Obligations Must be Met?

Meeting your tax obligations is essential to avoid legal issues and financial penalties. Key taxes include:
- Income Tax: Based on the business's net income.
- Employment Taxes: Includes Social Security and Medicare taxes, unemployment taxes, etc.
- Sales Tax: Applicable if you sell taxable goods or services.
- Excise Tax: Applies to specific goods like alcohol, tobacco, and gasoline.
Consulting with a tax advisor can help you understand and meet these obligations.

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