Laws for Businesses

A federal tax identification number, also known as an employer identification number or EIN, is a nine-digit number used to identify a business for tax purposes. The Internal Revenue Service (IRS)...

According to the Encyclopedia of Taxation and Tax Policy, a "windfall profits" tax is a tax leveled by a government on profits that it deems unusually or unfairly large. Large profits are dubbed...

The taxation of salt has been the most famous aspect of India's tax law history. Taxes today include long- and short-term capital gains and income taxes. Keep in mind that you will be taxed on...

For everyone who works or draws some sort of income, the federal government requires a 1040 tax return form to be filled out. This form will state all the income earned throughout the year, all...

Tax season can be a dreadful time of year for many business owners, and just because your organization is tax-exempt does not necessarily mean that you are free from filing reports to the IRS on a...

The federal government passed into law a bill that allows businesses to get tax breaks from work opportunity tax credits. The Work Opportunity Tax Credit (WOTC) is a federal hiring incentive that...

Knowing, understanding or seeking guidance regarding corporate tax laws will decrease your firm's chances of being assessed a variety of corporate tax penalties. Corporate tax penalties are...

Medicare tax withheld is part of the payroll tax contribution that goes toward funding the federal organization that makes it possible for workers to receive Medicare benefits upon reaching a...

Federal income tax liability is the amount that is owed (or a liability) the federal government on sources of income. Federal tax laws regarding this area are highly regulated and mandated by the...

A sole proprietorship is the most common type of business. A sole proprietorship is the easiest business to form. Sole proprietorships have one owner. As soon as you perform your first business...

Status as a non-profit enables a group or individual to apply for grants, be exempt from most taxes and have protection from personal liability. To qualify as a non-profit you need 501(c)3 status....

An Employer Identification Number (EIN) is used for tax purposes, for businesses. Sometimes, it's referred to as a Federal Tax Identification number. You may apply for an EIN online, over the...

Corporations are legal entities with specific laws and regulations determining their taxes. Most are not taxed at the individual rates of their owners, a key reason for using the corporate...

Forming a nonprofit corporation is similar to forming a traditional corporation, but with the added step of applying for tax-exempt status. A nonprofit is typically an organization that exists to...

Tax-exempt status can be a huge money saver for non-profit organizations. With no sales or income tax to pay, there's more money to fund the organization's goals. It's not difficult to become...

An Employer Tax Identification Number (aka Federal Tax Identification Number) is just that: a number assigned to your business to let the federal government know who you are. Get a tax ID number...