article thumbnail

How SUI and State Income Taxes Affect Small Businesses

CPA Practice

Some states require employers to pay additional payroll taxes. In Alaska, New Jersey, and Pennsylvania, both employers and employees contribute to the fund, with the employee’s portion of SUI deducted from their paychecks. Many companies also register with a payroll service, so they don’t have to worry about each state’s tax rates.

article thumbnail

Business Tax Rates: How Much Do Small Businesses Pay in Taxes?

xendoo

Corporate tax Self-employment tax Sales tax Payroll tax We’ll cover everything you need to know about tax rates for the most popular business entity types—corporations, partnerships, sole proprietorships, and LLCs. Other than income tax, your small business may be subject to payroll taxes, self-employment taxes, and more.