1. Types of Business Taxes www.ebservicesva.com

2. A business must pay a variety of taxes based on the company's physical location, ownership structure and nature of the business. The following are the six general types of business taxes. www.ebservicesva.com

3. 1. Business Income Tax - All businesses except partnerships must file an annual income return. Small businesses, partners in partnerships, and S corporation owners pay taxes through their personal income tax returns. 2. Self-Employment Tax - Self-employment taxes are those paid by sole proprietors and partners for social security and medicare, based on the income of the business.LLC owners also must also pay self-employment tax. www.ebservicesva.com

4. 3. Employment Taxes (Payroll Taxes) - Employment taxes are those paid by the owner of a business for several types of taxes based on gross pay of employees. 4. Excise Tax - An excise tax is a tax on use or consumption of certain products. Excise taxes are sometimes included in the price of a product, such as motor fuels, cigarettes, and alcohol. www.ebservicesva.com

5. 5. Sales Tax - Sales tax is required to be collected by merchants in most states and paid to the state department of revenue. 6. Property Tax - If a business owns real property the business must pay property tax to the local taxing authority where the property is located. The tax is based on assessed value. www.ebservicesva.com

6. Essential Business Services 13168 Piedmont Vista Drive Haymarket, VA USA Zip: 20169 PH: (703) 754-2601