- Special Sections
- Public Notices
The IRS has some basic federal tax information and matters of consideration for individuals planning to open a business. They include:
• Type of business. The most common types of businesses are sole proprietorship, partnership, corporation, S corporation and limited liability company. The type of business determines which tax forms to file.
• Types of taxes. The four general types of business taxes are income, self-employment, employment and excise tax.
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