Set up your business in USA

In the United States, the timing of tax payments for small businesses can vary depending on the type of business and the tax responsibilities involved. Here are the general guidelines:

• Income Tax: Small businesses, depending on their structure (sole proprietorship, partnership, corporation, or S corporation), may pay income taxes differently:
• Sole Proprietors and Single-member LLCs: They typically pay income tax on business earnings through their personal tax returns using a Schedule C with Form 1040. Taxes are usually paid by April 15th of each year. They also make estimated quarterly tax payments if they expect to owe tax of $1,000 or more when their return is filed.
• Partnerships: They file an informational return on Form 1065, and the partners pay tax on their share of the profits via their personal tax returns, also typically making quarterly estimated tax payments.
• Corporations: They file taxes using Form 1120, and tax payments are due by the 15th day of the fourth month following the end of their fiscal year (April 15th for those on a calendar year). They also make estimated tax payments quarterly.
• S Corporations: They file an informational return on Form 1120-S, but the income flows through to shareholders’ personal tax returns, with taxes paid at the individual level, often requiring estimated quarterly payments.
• Estimated Quarterly Tax Payments: Most small businesses need to make quarterly estimated tax payments if they expect to owe $1,000 or more in taxes for the year. These payments are typically due on April 15, June 15, September 15, and January 15 (of the following year).
• Employment Taxes: If a business has employees, it must also handle withholding taxes, Social Security, and Medicare. These taxes are generally paid either monthly or semi-weekly, depending on the amount of tax reported.
• Sales Tax: If applicable, sales tax requirements vary by state and locality, and the frequency of payments can be monthly, quarterly, or annually.
• Other Taxes: Depending on the nature of the business, other taxes such as excise taxes may also apply, with varying payment schedules.

Small business owners often work with tax professionals to ensure compliance and optimize their tax strategy throughout the year.

There are a few different ways to get a US business address:

• Rent a physical office space: This option involves renting a physical office space in the US, which can be used as your business's official address. This is a good option if you need a physical location for your business, such as a retail store or a warehouse.
• Use a virtual office service: A virtual office service allows you to use a professional business address as your official business address, even if you don't have a physical office space. This option typically includes mail and package handling services, as well as access to conference rooms and other amenities on an as-needed basis.
• Use a residential address: If you are just starting out or don't need a physical location for your business, you may be able to use your own residential address as your business's official address. This option is generally only suitable for businesses that do not have a high volume of mail or packages and do not receive customers at their addresses.

It is important to note that different states have different requirements for using a residential address as a business address. Some states may require you to register your business address with the state or local government or may have other requirements that you need to follow. It is a good idea to contact us regarding the specific requirements for your situation and to get advice from us - a professional corporate service provider.

The numbers below are for reference and only at state level

• Reserving Business Name: Minimum of US$10 and US$10 special handling fee.
• Incorporation Filing: Company Detailed Information report’s fee is US$25 plus US$75 service fee. Then there is the Incorporation Filing with US$100 fee with US$15 handling fee.
• Business License: The average for a business is US$50-US$100 but extra fees may occur based on location and industry.
• LLC Fee: US$85 is the initial cost of starting a business. In California, the Statement of Information (US$20) is required to be submitted within 90 days of formation.
• Ongoing LLC Fee: The annual US$800 fee is due within 3.5 months of forming and then every April 15th thereafter. This is the cost of doing business in California uniquely for LLC.
• Other Ongoing Fee: Annual Report Filing Fee is US$25 and Annual Tax Fee is at US$800 minimum.