Steve wrote:

- quote -

Other than sales taxes, many states also charge the business
a "Business & Occupation (B&O) tax", determined by the type
of business activity. Although the rates appear to be low,
the tax is usually charged against the GROSS income of the
business, not the profit. Even if your business loses money,
you still pay the tax.

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"Steve" <nomailsteve4836[at]lycos.co.uk> wrote:
- quote -

I don't know about Florida but I own a small C Corporation
in NY and we pay Federal Income Tax, Federal Unemployment
Tax, NY Income Tax, NY Unemployment Tax, and the company
share of both Social Security and Medicare. There is some
coordination between the NY and Federal Unemployment taxes.
You should check at the Web site of the Florida Department
of Taxation, or whatever they call it, to see what taxes
your corporation would pay in FL.

--
Vic Roberts
Replace xxx with vdr in e-mail address.

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

<ebetts3[at]msn.com> wrote:

- quote -

Its a corporation.
Thanks

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

What kind of business - sole prop/partnership/corp/s-corp?

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I am doing a little research into starting up a business in
Orlando. Can someone please enlighten me as to what taxes
(percentages and type) are payable on profit from a
businesss? Sales tax I understand, its the other unknown
ones I am interested in.

Thanks

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >