How to Start a Business in Unincorporated RivCo v6

for any wagering activity and to pay the federal occupational tax on wagering.

• Social security and Medicare taxes • Federal income tax withholding • Federal unemployment (FUTA) tax

Excise tax has several general excise tax programs. One of the major components of the excise program is motor fuel. For additional information, refer to Excise Taxes: small-businesses-self-employed/excise-tax • For more information on filing Federal business taxes, visit: small-businesses-self-employed/filing-and paying-your-business-taxes. STATE TAXES Every LLC that is doing business or organized in California must pay an annual tax of $800. This yearly tax will be due, even if you are not conducting business, until you cancel your LLC. • You have until the 15 th day of the 4 th month from the date you file with the SOS to pay your first-year annual tax. o Example: You form a new LLC and register with SOS on June 18, 2020. Your annual LLC tax will be due on September 15, 2020 (15 th day of the 4 th month) • Your subsequent annual tax payments will continue to be due on the 15 th day of the 4 th month of your taxable year. Every corporation that is incorporated, registered, or doing business in California must pay the $800 minimum franchise tax. Corporations are not subject to the minimum tax if both of the following are true: • They did not conduct any business in California during the tax year. • Their tax year was 15 days or fewer. A sole proprietorship operates as an individual for tax purposes. This requires the individual to report all business income or losses on their individual income tax return (Form 540): https://www.ftb. . 32 Exceptions to the first year minimum tax:

For additional information, refer to Employment Taxes for Small Businesses: small-businesses-self-employed/employment-taxes Excise Tax This section describes the excise taxes you may have to pay and the forms you have to file if you do any of the following. • Manufacture or sell certain products • Operate certain kinds of businesses. • Use various kinds of equipment, facilities, or products. • Receive payment for certain services. Form 720 - The federal excise taxes reported on Form 720: form-720 , consist of several broad categories of taxes, including the following: • Environmental taxes • Communications and air transportation taxes • Fuel taxes • Tax on the first retail sale of heavy trucks, trailers, and tractors • Manufacturers taxes on the sale or use of a variety of different articles Form 2290 - There is a federal excise tax on certain trucks, truck tractors, and buses used on public highways. The tax applies to vehicles having a taxable gross weight of 55,000 pounds or more. Report the tax on Form 2290: about-form-2290 . For additional information, see the instructions for Form 2290: instructions/i2290 Form 730 - If you are in the business of accepting wagers or conducting a wagering pool or lottery, you may be liable for the federal excise tax on wagering. Use Form 730: form-730 , to figure the tax on the wagers you receive. Form 11-C - Use Form 11-C: forms-pubs/about-form-11-c , Occupational Tax and Registration Return for Wagering, to register

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