Federal	State
Business	Federal Income Tax Ø Flow through entities: taxed at individual rates Ø C-corps: corporate tax rate Ø Quarterly deposits may be required	Excise Tax Return Ø Business & Occupation Tax—paid by business on gross receipts Ø Retail Sales Tax—collected by business from end user Ø Use tax—on goods and services for which sales tax is not collected
Employment	FEDERAL WITHHOLDING Ø Deducted from employee pay FICA Ø 6.2% social security tax , 1.45% Medicare tax Ø Self-employed individuals pay a self-employment tax which is the equivalent of FICA tax. FUTA Ø The business itself must pay this tax, not deducted from employee’s wages. Ø Can receive credit for state unemployment taxes paid.	Unemployment Insurance (SUI) Ø Based on wages paid up to limit set by state Labor and Industries (L&I) Ø Taxed by the number of hours worked Ø Portion can be deducted from employee pay

OTHER STATE TAXES
Aircraft Brokered Natural Gas Cigarette Convention and Trade Center Enhanced 911 (telephone) Enhanced Food Fish Estate Hazardous Substance Intermediate Care Facilities (IMR) King County Food and Beverage Leasehold Litter Motor Vehicle Sales/Use	Oil Spill Petroleum Products Public Utility Real Estate Refuse (solid waste) Regional Transit Authority (RTA) Rental Car Solid Fuel Burning Device (wood stove) Special Hotel/Motel Syrup Tobacco Products Transient Rental Income (local hotel/motel) Watercraft (boats/vessels)

Don’t forget county and city taxes