State Tax Definitions
Sales & Use – A tax on sale and rental of goods, acquired or manufactured both in and out of state. A certificate is required to collect the tax.
Meals & Rooms – A tax of gross receipts per quarter for restaurants, bars, lodgings, etc.
Corporate Income Tax – A percentage of the corporation’s net income. Minimum of $250 per year.
Personal Income Tax – Approximately 24% of your federal income tax.
Withholding Tax on Employees – A tax you withhold and remit to the State on behalf of your employees, including state unemployment taxes (SUTA).
Other State Taxes – There are special taxes on beverages, cigarettes, tobacco, solid waste, and others.