How should state and local taxes impact the results of the major strategic decisions faced by the three venturers as they start up the business? Discuss.

Business venture question | Business & Finance homework help

It is crucial to take into account state and local taxes when making important strategic decisions regarding a new venture. You may need to comply with certain laws and regulations in your state. These include income tax rates, sales taxes, filing fees for corporations or limited liability companies (LLC), as well as corporate or limited liability company filing fees. Additionally, each state will likely vary in how they categorize the type of business being established – whether it is a sole proprietorship, partnership, LLC etc.- which corresponds with different tax implications. It can affect how much capital gains tax is due during and after the existence of the business, depending on the time that profits are realized.

Before launching any new venture, it is important to research local ordinances. Some cities may have specific regulations regarding noise pollution or zoning. Others might require permits for safety procedures or disposal of hazardous material from manufacturing. Ultimately any extra costs incurred due to these charges would detract from potential profits diminishing return rate investors expect out bottom line goal still same end – bettering general population community large taken whole.

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