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Business and Tax Reporting Requirements
Overview
Use this guide for becoming acquainted with the basic tax and license
requirements for starting and operating a business. Basic filing requirements,
deadlines, and key forms for appropriate agencies are included, but you
should not depend on this guide as the only source for sole proprietorship
and general partnership business structures. Contact all appropriate
agencies directly for current and specific information on taxes and licenses.
Limited partnerships, corporations, and limited liability companies should
contact professionals such as lawyers and accountants for filing and
reporting.
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Start-Up
Forms
To start a business, the following forms are generally required:
Federal:
IRS Businesses with Employees:
- SS4: Application for Federal Employer (EIN)
- W-4: Employee Withholding Allowance Certificate
- I-9: Employee eligibility verification
(resident status for Immigration and Naturalization Services INS)
- W-5: Advanced Earned Income Credit
State of California:
- DE-1: Registration for new businesses with employees
- Employment Development Dept (EDD)
- BT-400: Sales of tangible personal property:
- Sales and Use Tax, Initial Registration Form
- State Board of Equalization
County of Sonoma:
- Fictitious Business Name Statement
City:
- Business license or tax permit in each city where you conduct business
The following forms must be filed with federal, state and local
governments on a one-time, quarterly, or annual basis:
*Depending on the size of your business, you may have to file these
forms monthly, annually, or quarterly. **This form must be refiled every
five years.
Electronic Payment Options
Federal and state taxes can be paid by the Electronic Federal Tax Payment
System (EFTPS). To enroll, employers can call 800-945-8400 or 800-555-4477.
Even if an employer is not required to use this method, most find it
easy and choose this filing method.
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Federal,
State and Local Forms
Brief Description of FormsFederal- I-9 Employee eligibility verification (resident status),
Immigration and Naturalization Service (INS)
- SS-4 Application for Federal Employer (EIN), Internal Revenue Service
- W2 Wage and Tax Statement, IRS
- W3 Transmittal of Wage and Tax Statements, IRS
- W4 Employee Withholding Allowance Certificate, IRS
- W5 Advanced Earned Income Credit, IRS
- 940. Employer's Annual Federal Unemployment Tax Return (FUTA), IRS
- 941. Employer's Quarterly Federal Tax Return, IRS
- 1065. U.S. Partnership Return of Income, IRS
- 1066. Annual Summary and Transmittal of U.S. Information Returns,
IRS
- 1067. Miscellaneous Income, IRS
- 8109B Federal Tax Deposit Coupon IRS
- 1040ES Estimated Tax For Individuals, IRS
- Sch. C Profit of Loss Form, IRS
- Sch. SE Self Employment Tax, IRS
State
- BT400 Sales and Use Tax, Initial Registration Form, State Board of
Equalization
- BT 401 California sales and use tax, Periodic Reporting Form, State
Board of Equalization
- DE1378 Elective Disability Insurance, for business owner (optional),
EDD
- DE1378DI Application for DI Elective Coverage, EDD
- DE4 CA Employee Withholding Allowance Certificate (may use IRS Form
W-4 in lieu of this form), EDD
- DE4P Withholding certificate for pension or annuity payments (may
use IRS Form W-4P in lieu), EDD
- DE6 Quarterly Wage and Withholding Report, EDD
- DE7 Annual Reconciliation Statement, EDD
- DE34 Report of New Employees
- DE88 Payroll Tax deposit, EDD
- LP-1 Certificate of Limited Partnership, Secretary of State
- 540 Profit from business, sole proprietor, Franchise Tax Board
- 540ES Income tax deposits, Franchise Tax Board
- 565 To report miscellaneous income, State Franchise Tax Board (Send
with Federal 1099)
Local
- City business licenses/tax certificate
Generally required for each incorporated city in which you do business (every
year)
- Fictitious Business Name Statement
Office of the Sonoma County Clerk. Must be filed at least every 5 years.
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