If you will have employees in your business, you will need to withhold Federal and State Income Taxes and Social Security payroll (also called FICA) taxes. Your company will be required to match FICA withholdings and pay Federal and State Unemployment taxes based on the dollar value of your payroll. You will also need to provide Workers’ Compensation insurance for your employees.
Whether you need assistance forming a business, or if your business is currently underway and you need representation in connection with a transactional or litigation matter, our attorneys have the skills and background to help. To schedule a consultation to discuss your matter, contact Smith Paulson O’Donnell & Erickson, PLC today.