BUSINESS TAX SUMMARY
1-	PAYROLL TAX:
	-941 PAYROLL TAX: That all money that we withhold from employees payroll checks
	and the contribution of employer for Social Security and Medicare.
	Has to be pay on the 15 of each month for the payroll of last month
	-TWC: stand for Texas Workforce Commission: We contribute for the unemployement
	tax for the state of Texas
	Has to be paid and reported quarterly.
	WHEN to report: Maximum the 30th day after the quarter ends.
	RATE: 2.7% OF THE FIRST 9000 OF EACH EMPLOYEE EARNING.
	-FUTA: Stands for Federal Unemployement TAX
	When to pay: Each quarter
	When to Report: Yearly
	Rate: 0.08% of the first 7000 of each employee earning.
2-	SALES TAX:
	If you sell taxable items like Grocery, Restaurant you have to REMIT to the State
	the SALES TAX you collected on behalf of them. Generally is 8.25% of the SALE PRICE.
	WHEN to pay: THE 20th day after the ending month or quarter.
	WHEN to report: The 20th day after the ending month or quarter.
3-	CORPORATION TAX:
	FEDERAL INCOME TAX:
	If you are a C corporation you have to pay tax on the profit net of the corporation.
	The base is 15% on the first 50 000
	FRANCHISE: If your corporation or Partnership has a gross sale more than 150 000.
	The Business is required to pay the FRANCHISE TAX
	Rate: is 0.45% on the profit net