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Tag Archives: taxation

More Tax Surprises

Tuesday, August 12, 2008

I noticed this today:
http://www.revenue.state.il.us/Businesses/TaxInformation/Income/subchapters.htm
Illinois charges most corporations a 1.5% “replacement” tax.  Seeing as I will be taxed as an s-corporation I will have to pay that.  ugh.  Another $1000 or so for me eventually.  Even if I stayed taxed as an LLC (technically “partnership”), they still charge the tax.  They do say “Partnerships, trusts, and S corporations pay [...]

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Researching Taxation And Business Regulations

Sunday, August 3, 2008

Now that I’m on my way to running the business instead of just figuring out how to start it, I have been looking into the *big* issue of taxation and regulations I need to follow.
What I have learned so far:
1. Workers Compensation Insurance is necessary even though my business is a sole-prorpretor company.  I’m not [...]

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