Different business structures (sole
proprietorship, partnership, corporation, or limited liability company)
have different income tax requirements regarding filing dates, forms
required, and tax rates and calculations. The IRS lists the various
business taxes and forms required for each legal structure:
Federal income tax is a pay-as-you-go tax. Business owners generally
pay income taxes in quarterly estimated income tax payments. For
more information on estimated income tax payments, refer to IRS
Publication 505, Tax Withholding and Estimated Tax. |