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Federal
Requirements
Disclaimer:
Great care has been taken to ensure the accuracy and
completeness of the information provided here. Nonetheless,
the new business owner is cautioned to contact the
City of Foster City and the San Mateo County governments
to confirm the requirements and to determine if other
requirements are necessary for their business. The
Foster City Chamber of Commerce assumes no liability
for the correctness of the information presented here.
1.
Obtaining a Federal Employer Identification Number
- usually required by most businesses even if they
don’t have employees
Contact :
Internal Revenue Service
(IRS)
Attn: EIN Operations
Philadelphia, PA 19255
Tel: (800) 829-4933
Fax: (215) 516-3990
see
webpage
also
see webpage
2. Federal
Taxes
Federal Business Income Tax
Social Security Tax (if self-employed
– Self-Employment Tax)
Excise Tax
– if you sell / produce chemicals, alcoholic beverages,
tobacco, guns, etc.
Withholding Taxes for Employers
- withhold Income Tax from employee’s paycheck
- withhold Social Security Tax
(known as Federal Insurance Contributions
Act – FICA)
- pay Federal Umemployment Tax (FUTA)
Contact
:
Internal Revenue Service
(IRS)
see
webpage
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