Income and Franchise Tax
A company’s profit (net worth) is subjected to corporate income tax. However, only corporations are required to pay this tax. Sole proprietorships, partnerships and limited liability companies don’t pay income tax but may be liable for state taxes. Any company must pay for the privilege of doing business in a certain state or city.
Personal Property Tax
Personal Property Tax is the tax a citizen pays for personal property such as cars and boats.
Sales and Use Tax
Sales Tax is included on all retail transactions. Use Tax is enforced tax on consumers for tangible personal property that is used, consumed or stored in this state.
A Privilege License is required for every person, firm, company or corporation involved in any business, vocation, occupation or profession.
A Business License is a permit that gives a citizen the right to operate a business in a particular city or jurisdiction.
Secretary of State Annual Reports
All limited liability companies and corporations are required to file an Annual Report with the Secretary of State.
Multi-State Planning involves selling a private health insurance plan through the Marketplace under contract between the U.S. Office of Personnel Management and an insurance company.
A Tax Credit allows a taxpayer to subtract a certain amount of money from the tax that they owe to the government. Certain tax credits are given to businesses in specific locations, classfications or industries.