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As a sole proprietor who obtained his or her EIN, state certificate, etc in August but not starting the business until October how would you pay quarterly taxes and when would the first be due?
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Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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Quarterly tax payments are due April 15 for the 3 months ending March 31st, June 15 for the 2 months ending May 31st, September 15th for 3 months ending August 31st and January 15th for the 4 months ending December 31st (if you file your return an pay all taxes due by January 31st, you can skip the January 15th payment). Since your business won't earn any income until October, your first payment would be January 15th.
Answered on Sep 12th, 2014 at 8:03 PM