What taxes do I need to plan for as a new business owner?
Last updated September 27, 2026
Learn the main business taxes to plan for, when quarterly payments may apply, and what to check after getting an EIN.
As a new business owner, the main taxes to plan for are usually income tax, self-employment tax, and any state or local taxes that apply to your business. If you sell taxable products or services, you may also need sales tax registration. If you hire employees, payroll taxes become a separate requirement. Getting an EIN does not automatically set up every tax account you need. It is just one federal ID number. The next step is to figure out which federal, state, and local taxes apply to how you earn money, where you operate, and whether you sell online, in person, or across state lines.
Steps
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Identify how your business makes money
Write down what you sell, where you sell it, and who pays you. This affects income tax, sales tax, and local rules. -
Plan for federal income tax
Most businesses pay tax on profit, not total revenue. Profit is what is left after ordinary business expenses. -
Check self-employment tax
If you are self-employed, you may owe self-employment tax in addition to income tax. This often surprises first-time founders. -
Decide whether quarterly estimated taxes apply
Many owners need to pay estimated taxes during the year instead of waiting until tax season. This can apply even in your first year if you expect to owe tax. -
Check state tax accounts
Your state may require income tax accounts, sales tax registration, employer accounts, annual reports, or franchise-style taxes depending on your business and entity type. -
Check local taxes and licenses
Some cities or counties have local business taxes, registrations, or renewals separate from your state filing. -
Set aside money as you get paid
A common starting habit is to save a percentage of profit in a separate tax savings account, then adjust once you have better numbers or advice from a tax pro.
If you are still stuck
If you are not sure which taxes apply to your exact business, open your Stratify roadmap and check the tax setup tasks for your state and business type. You can also ask the AI coach what to do next based on what you sell, where you operate, and whether you already have an EIN.