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Business Taxes

Taxes play an important role in the operation and profitability of a small business. In part, taxes can influence:

  • the company's form of incorporation - different types of incorporation are taxed differently
  • choice of products and services - some products and services are subject to sales and services taxes in addition to licensing requirements
  • hiring of workers - the cost and complexity of payroll taxes may restrict the number and type of employees

Consequently, it is important to have a good understanding of the applicable tax law as you set up and operate your business.

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