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What kind of taxes do I need to pay for running a business?
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The type of taxes you need to pay for running a business will depend on the type of business you are running and the jurisdiction in which it is located. Generally, most businesses are required to pay income tax, payroll tax, property tax, as well as state and local sales tax. Depending on your business structure and activities, you may also be required to pay other types of taxes, such as excise taxes, franchise taxes, and gross receipts taxes. Additionally, depending on the type of business you are running, you may also be subject to taxes specific to your industry.