Are State and City B&O Taxes Deductible for Businesses
I recently started a Sole Proprietorship in the State of Washington, and I have to pay Local City and State B&O Taxes. Can I deduct these via Schedule C as the city tax is fairly significant?
I recently started a Sole Proprietorship in the State of Washington, and I have to pay Local City and State B&O Taxes. Can I deduct these via Schedule C as the city tax is fairly significant?
Yes, that tax is based on sales, so yes, it is a tax and can be claimed as an expense.
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