![]() If the enterprise fails to make a profit, you do not pay the SE tax. The SE tax rate is 15.3% divided into 12.4% for social security (offers retirement benefits, survivor benefits, and disability benefits) and 2.9% for Medicare (hospital insurance). Self-employment tax (SE tax) is a Social Security and Medicare tax paid by self-employed individuals based on the business’s net income. Here are the 5 basic types of business taxes: The business taxes paid to the Internal Revenue Service (IRS) are dependent on the type of business operation and its size. ![]() Taxes are the primary ways of generating revenue by governments at both state and federal levels. ![]()
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