2. if the service or destination address is in Texas, then yes; otherwise no.
3. Quarterly, unless the Comptroller approves you for yearly. start here to see what taxes you may need to remit: http://www.window.state.tx.us/
4. IRS form 1040 Schedule C
5. depends entirely on what the nature of your LLC is.
if you haven't done it yet, forget the LLC
first of all you really know to know more about what this entails before you go any further
IRS does not recognize an LLC, it is a state designation so you are either a sole proprietor, a corporation or a partnership
obviously you are not the latter, and you really don't want to get into a corporation at this point-- you will file an 1120, you will need an EIN and you will file quarterly reports on the one and only employee--you, you may be subject to a state minimum annual tax regardless of your success
as a sole proprietor you will pay your own self employment tax on your Sch C 'net' amount, over $400
You need an accountant, it will be worth paying for one in the first year. You should have a roadmap after that.
Im in the process of setting up an LLC. I have a few questions that im just not sure about before I go through with the process. My business will be based in Texas:
1. I will have no employees besides my self...starting off anyway, will I need an EIN?
2. My business is providing an online service. Will I need to charge sales tax?
3. If "Yes" to question # 2, How often/when do I pay sales tax? Where do I pay sales tax?
4. How do I handle federal taxes? Will I still just file my yearly federal taxes like I always do, but claim all profits on the business on my regular taxes.....or am I having to do separate taxes for myself and the business?
5. Is there any other forms/records/taxes that I have to submit on a monthly, quarterly or yearly basis not mentioned in my previous questions?
Thanks.
