Hello, Context: I live in Florida where there is no income tax and I own my own agency. For the past 3 years I haven’t made a dime. Now in the past couple of months money has started flooding in. I split the revenue with my father and a business partner based on percent wise. We also give out W9’s to people who receive commission from us. The LLC is under my name and it is my company, we don’t have health care or anything like that.
Do I fall under self employment in florida? Do I only have to pay 15% federal tax on my personal salary form the company. My personal salary is 35% of profit.
Thanks in advance
You must log in or register to comment.