Configure tax settings for accurate calculations and compliance.

Federal Tax Setup

1. Navigate to Tax → Settings
2. Enter Employer Identification Number (EIN)
3. Select business entity type
4. Set fiscal year dates
5. Choose accounting method (cash or accrual)
6. Configure federal tax deposit schedule

State Tax Registration

Register for state taxes where you:

• Have physical presence (office, warehouse)
• Have employees working
• Meet economic nexus thresholds for sales tax
• Own property or equipment

Tax Types to Configure

• Income Tax: Federal and state corporate/business tax
• Payroll Tax: FICA, FUTA, SUTA, withholding
• Sales Tax: State and local sales tax rates
• Property Tax: Real estate and personal property
• Excise Tax: Industry-specific taxes

Tax Deposit Schedule

• Monthly: Tax liability under $50,000
• Semi-weekly: Tax liability over $50,000
• Next-day: Tax liability over $100,000 in any period