#409 Open Forum Q & A | Your Tax and Legal Questions!
Main Street Business
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Is There a Sales Tax?
Sales tax in most states is paid addressed only on the sale of products, not services. The family management company will pay out 100% of the money it receives to the family members as a contractor expense. Paying them through the S court payroll isn't strictly a no-no but you pay FICA on their wages. On $5,000, the total FICA is $750 and half is deductible as a business expense.
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