{"id":4620,"date":"2016-04-04T10:47:36","date_gmt":"2016-04-04T15:47:36","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/smallbusiness\/business-taxes\/income-taxes-introduction.html"},"modified":"2024-05-23T01:56:16","modified_gmt":"2024-05-23T06:56:16","slug":"income-taxes-introduction","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/smallbusiness\/business-taxes\/income-taxes-introduction.html","title":{"rendered":"Income Taxes: Introduction"},"content":{"rendered":"\n
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Income Taxes: Introduction<\/h1>\n
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All businesses must pay federal income taxes<\/a>. Some businesses are taxed as <\/span>separate entities<\/a> for income purposes, such as corporations or limited liability companies (LLCs). Other business’s incomes are not taxed separately from the incomes of their principal owners, such as a <\/span>sole proprietorship<\/a>.<\/span>
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Business income tax is a pay-as-you-go tax — businesses usually must pay the tax as income is earned during the year. As a business, you may be required to make estimated tax payments throughout the year (i.e. every three months). If you are not required to make estimated tax payments, you may pay any tax due when you file your return at the end of the tax year.<\/p>\r\n

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Income Tax and Different Business Structures<\/h2>\r\n

Your form of business determines which income tax return form you have to file:<\/p>\r\n