BUSINESS TAXES
Most small businesses must deal with several common types of taxes, including: • Federal and state income taxes • Sales and use tax (for taxable goods and some services) • FICA taxes (Social Security and Medicare) on employee wages • Federal unemployment tax (FUTA) • State unemployment tax • Withholding of federal and state income tax from employee wages Some businesses also owe more specialized taxes, such as taxes on fuel, alcohol, cigarette and tobacco products, or hazardous waste. These taxes are explained later in this section. Note: If your business operates in more than one city, county, or state, you must pay attention to the tax rules in each jurisdiction where you do business, including for online sales. SOURCES OF INFORMATION Business owners can get help understanding tax responsibilities through free workshops, seminars, and online tools. Many are designed specifically for new businesses and new employers.
Agency-Sponsored Education Workshops and Seminars Minnesota Department of Revenue – Business Tax Education
The Minnesota Department of Revenue offers free classes, workshops, and training events to help business owners understand their state tax obligations and how to meet them. Examples include: • Basic Sales and Use Tax classes and webinars • Withholding tax education • Classes on partnership and S corporation tax basics • Industry‑specific sales tax webinars Schedules and registration are available on the department’s Business Tax Education web page or by calling the numbers listed in the Resource Directory.
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