San Antonio—Central South Texas Edition 2020—U.S. Small Bus…

LOCAL BUSINESS ASSISTANCE

An O’Fallon Casting Inc. employee at work in O’Fallon, MO. General Manager Vince Gimeno grew his business thanks to the Small Business Innovation Research Program.

of goods, and services that are expressly enumerated as taxable under the Texas Tax Code. For more information on how to apply for a Texas sales tax permit, visit window.state.tx.us/taxpermit . To find out more about Texas Franchise Tax, including information on exemptions, visit window. state.tx.us/taxinfo/franchise . Business Inventory Tax (also known as, property tax or ad valorem tax) is assessed and collected by your local county appraisal district. Social Security If you have any employees, including officers of a corporation but not the sole proprietor or partners, you must make periodic payments, and/or file quarterly reports about payroll taxes and other mandatory deductions. You can contact the IRS or the Social Security Administration for information, assistance, and forms at (800) 772-1213 or visit socialsecurity.gov/employer . You can file W-2s online or verify job seekers through the Social Security Number Verification Service. Employment Eligibility Verification The Federal Immigration Reform and Control Act of 1986 requires employers to verify employment eligibility of new employees. The law obligates an employer to process Employment Eligibility

Name Registration Register your business namewith the county clerkwhere your business is located. If you’re a corporation, also register with the state. sos.state.tx.us/corp/forms_boc.shtml Many county clerk offices will provide a name search service for a nominal fee. The whole search process will often be taken care of through the mail. Please contact the local county clerk for verification of their process. Taxes As a business owner, you should know your federal tax responsibilities and make business decisions to comply with tax requirements. The IRS Small Business and Self-Employed Tax Center, irs.gov/businesses/small-businesses-self-employed , includes information on paying and filing income tax and finding an Employer ID Number. As the IRS continues to implement some of the Tax Cuts and Jobs Act provisions, your tax obligations may change. For the latest tax reformupdates that affect your bottom line, visit irs.gov/tax-reform . » State Taxes window.state.tx.us/taxes Texas imposes a sales tax on all retail sales, leases and rentals

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