Additional Business Resources
This section provides registration and licensing information for doing business in Utah from several different agencies. Due to the variety of businesses, this section contains information on various local, state and federal guidelines. Not every business will need to follow all of the requirements.
Most businesses must perform the following actions in the beginning:
- File articles or certificates of incorporation or organization and register a business name with the Utah Department of Commerce. www.corporations.utah.gov.
- Apply for needed state tax licenses with the Utah State Tax Commission www.tax.utah.gov.
- Apply to the IRS for a Federal Employer Identification Number (FEIN) www.irs.gov/businesses/index.html
- Apply for Worker's Compensation Insurance.
- Check zoning requirements in your local city or county offices.
- Obtain a city or county business license in the area you do business.
- Check with Department of Commerce to see if your business requires a special state license (e.g. contractors, accounting, doctors, dentists, food handling etc.) www.dopl.utah.gov.
- Provide basic business information to your local Better Business Bureau (BBB) www.bbb.org.
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The Utah State Tax Commission, Internal Revenue Service, Utah Labor Commission, and the Utah Department of Workforce Services jointly sponsor a one-day Employment Tax Workshop to provide information and answer questions about employment tax requirements for businesses. The seminars are free and are scheduled monthly (except December). To register, please go to http://tax.utah.gov/training/workshops.html.
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New Internet-Based Workshop Helps Tax Exempt Organizations Remain in Compliance
The Internal Revenue Service has launched a new Internet-based version of its popular Exempt Organizations Workshop covering tax compliance issues confronted by small and mid-sized tax-exempt organizations, including charities and churches.
Fraudulent E-Mail Claims to Be From the FDIC
The Federal Deposit Insurance Corporation (FDIC) has received numerous notifications from consumers of an e-mail that has the appearance of being sent from the FDIC. The "From" line of the e-mail displays the name "Federal Deposit Insurance Corporation" and the subject includes the phrase "IMPORTANT: Notification of Federal Deposit Insurance Corporation." http://www.saltlakecity.bbb.org/alerts/alerts_20060815.html
IRS Announces New Tip Reporting Program
IRS released formal guidance on its new tip reporting procedure. The "Attributed Tip Income Program (ATIP) ATIP" expands the existing IRS tip reporting and education program by offering employers in the food and beverage industry an additional tip reporting program. ATIP reduces industry recordkeeping burdens, has simple enrollment requirements and promotes reporting tips on Federal income tax returns. http://www.irs.gov/newsroom/article/0,,id=160536,00.html
IRS reminds taxpayers who previously filed an extension of time to file tax returns that they can electronically file (e-file) their returns until Oct. 16, 2006. http://www.irs.gov/newsroom/article/0,,id=160382,00.html
Headliner #172: Additional Guidance for Those Affected by Hurricanes
Additional guidance has been added to the FAQs for Hurricane Victims page on the following topics: Estimated Tax Payments, Filing Extensions, Gulf Opportunity Zone Bonus Depreciation, IRS Notices, Net Operating Losses and Work Opportunity Tax Credit. http://www.irs.gov/businesses/small/article/0,,id=160146,00.html
Tax Gap Fact Sheet: Third-Party Reporting Reminders
Underreported business income accounts for more than $100 billion per year in unpaid taxes, according to IRS estimates. In order to educate taxpayers regarding their filing obligations, this fact sheet, the third in a series, explains the rules pertaining to third-party payer reporting of income. In many cases, the tax law requires third-party payers, such as small businesses or individuals, to report to the IRS payments they have made to subcontractors, attorneys, architects and other service providers. In fact, experience shows that taxpayers are much more likely to report their income when they receive third-party notification of payments they received.
Tax Gap page on IRS.gov
Get the latest news, facts and figures regarding the tax gap and the fact sheets provide information on business income & cost of goods sold. http://www.irs.gov/newsroom/article/0,,id=158619,00.html
IRS Announces Standard Amounts for Telephone Tax RefundsAdditional Business Resources
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The Internal Revenue Service today announced the standard amounts that most long-distance customers can use to figure their telephone tax refund. These amounts, which range from $30 to $60, will enable millions of individual taxpayers to request the telephone tax refund without having to dig through old phone bills. Though businesses and nonprofits must base their telephone tax refund on the actual amount of tax paid, the IRS is considering an estimation method businesses and nonprofits may use for figuring the tax paid.
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