Upcoming 2017 Tax Deadlines You Should Know

Upcoming 2017 Tax Deadlines You Should Know

One of the hardest things for businesses to keep track of are the different taxes that are due throughout the year. For your convenience, we’ve compiled a comprehensive list, so you’ll never miss a deadline again!

Annual Report

Due Date: 15th of the 4th month following the business year-end. For most, this is April 15th.

Paid to: Secretary of State

Business Tax License

Due Date: 15th of the 4th month following the business year-end. For most, this is April 15th.

Paid to: State Department of Revenue

*Note: This is privilege tax of doing business based on your business’s location. Some businesses may fall within the city limits and therefore will have to pay this tax for both city AND county.

Franchise & Excise Tax

Due Date: This tax is filed annually, but paid quarterly based on income. Payment schedules should be provided to you by your Certified Personal Accountant (CPA). Final payment and filing are due the 15th of the 4th month following the business year-end. For most, this is April 15th.

Paid to: State Department of Revenue

Tangible Personal Property Tax

Due Date: Filing is due March 1st, but payment can be made anytime between October 1st and February 28th.

Paid to: City & County

Note: This is a tax based on a business’s fixed asset holdings. You will receive a bill from the city and county based on your business’s location for the previous years and a Tangible Personal Property Tax schedule to file with your current asset holding. You could receive up to three notices around year-end regarding this tax.

Sales Tax

Due Date: Due the 20th of each month for the previous month of sales or services. Rates and filing methods vary by state and county. Most services are exempt from this tax, but it is always best to check the tax code to verify!

Paid to: State Department of Revenue

Liquor by the Drink

Due Date: Due the 15th of each month for the previous month of alcohol and wine sales. Rates and filing methods vary by state and county.

Paid to: State Department of Revenue

Hiring a bookkeeper, CPA, and/or financial advisor for your small business will help you stay on top of your taxes without taking up the additional headspace you need to run your business. At Two Roads, we do your books so you can do everything else. Learn more about the services we provide.

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