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| *The Commerce Journal>>>Other Taxes |
Do you have to pay federal and state taxes on the sale of a company? |
Do you have to pay federal and state taxes on the sale of a company? Yes, you probably will. The sale of a company is an extremely complex transaction when it comes to working out the taxes on it. For even a small business you will need professional assistance to get it right unless you're an accountant in your own right. If you show a profit - yes. It does depend on what kind of company you have, but if you have a profit, you will pay some taxes. If you have gain on the sale, most certainly. |
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