Longview Public Library Small Business – Checklist 4, Run your Business

Run your business

 Federal business income taxes – refer to Washington Business Hub: http://business.wa.gov/

  • Sole proprietorships and single owner LLCs
  • 1040 Schedule C, 1040 SE (self-employment tax), 1040 ES (estimated tax)
  • Partnerships and multiple owner LLCs
  • Form 1065 plus 1065 K-1 forms for each owner,
  • 1040 SE (self- employment tax), 1040 ES (estimated tax)
  • Standard corporations (or LLCs that have formally elected to file as standard corporations)
  • Form 1120 (plus withholding from owner’s paycheck for income taxes, Social Security and Medicare)
  • S-corporations (or LLCs that have formally elected to file as S-corporations)
  • Form 1120-S and 1120 K-1 forms for each owner (plus withholding from each owners’ paycheck for income taxes, Social Security and Medicare)

 State business taxes

  • Washington Department of Revenue (DOR) - https://dor.wa.gov/
  • Do you need to file an excise tax return with DOR - https://dor.wa.gov/file-pay-taxes

 State taxes include:

  • Business and Occupation (B&O)
  • Sales tax
  • Use tax
  • Real and Personal Property Taxes
  • Industry-specific taxes
  • Know your sales tax rate

 DOR New Business Tax Workshops and online tutorials

  • New Business Tax Basics
  • New Business Tax Workshops Schedule
  • Common tax classifications
  • Industry specific guides
  • Tax incentives & specialized credits
  • Reseller permits
  • Ask general tax questions

 Local business taxes

  • Cities & towns
  • Counties – Cowlitz
  • Personal property tax

 Federal employment taxes

  • For instructions related to federal employment taxes, refer to the IRS Employer’s Tax Guide

 State employment taxes

  • Department of Employment Security (ESD) - https://esd.wa.gov/employer-taxes/contact-info-for-employers
  • Department of Labor and Industries (L&I) - http://www.lni.wa.gov/Main/WorkshopsTraining/

 License and permit renewals

  • Corporation, LLC, and LP annual filings
  • Nonprofit corporations and limited partnerships file their annual reports
  • Specialty licenses, permits, and local licenses may need to be renewed

Regulatory Compliance - Seek advice from your attorney, industry or business association, and other advisors to ensure you are in compliance with all regulations.

 Federal

  • Consumer Product Safety Commission
  • Department of Labor

 State

  • Department of Agriculture
  • Office of the Attorney General
  • Department of Ecology
  • Department of Financial Institutions
  • Human Rights Commission
  • Department of Labor and Industries
  • Liquor and Cannabis
  • Department of Natural Resources
  • Office for Regulatory Innovation and Assistance
  • Utilities and Transportation Commission

 Local

  • Cowlitz County health department
  • County assessors
  • Cities
  • Fire departments

 Prepare for the unexpected

 Get prepared for disasters

 Tools, templates, and in-depth information on developing a business continuity plan

 When Trouble Strikes: A Crisis Planner

 Need assistance?

Local Resources:

  • SCORE of Vancouver –
  • Kelso/Longview Chamber of Commerce –
  • Small Business Development Center –
  • Cowlitz Economic Development Council –
  • City of Longview –
  • City of Kelso – http://www.kelso.gov/
  • Cowlitz County –
  • LCC Career & Employment Center https://lowercolumbia.edu/careerservices/index.php
  • WorkSource Washington -

Business and Professional Associations https://www.sos.wa.gov/library/wa_orgsubjects.aspx

Business Impact NW

Career Bridge http://www.careerbridge.wa.gov/

Kelso/Longview Chamber of Commerce

LCC Career & Employment Center https://lowercolumbia.edu/careerservices/index.php

SCORE

Small Business Administration https://www.sba.gov/business-guide/

Small Business Development Center training

Veterans Business Outreach Center

Washington Business Hub http://business.wa.gov/

Washington Center for Women in Business

Washington Small Business Development Center (after plan is drafted)

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