I created an LLC a couple of years ago and put the business to the side for a while. I am about to begin the process with it and had some tax questions.
This business will most likely always be a side gig for me, so I will probably pay out most of the income to myself.
The main things I am unsure of are:
-how do I report/pay states sales tax?
-how often do you have to pay federal income tax and how does this work? For a business like mine which will be paying out almost all monies to the owner is the income tax based on the amount received in sales or net income/loss? Do I have to pay tax on the income I am giving myself as the business? As an independent person this income is just like any employer income, right?