There is some disagreement about what constitutes a small business. The definition varies around the world. In the European Union, a small business is a company with limited assets and low volume of sales of under 50 employees. In the United States, a small business is defined as an independently owned enterprise with limited assets a low volume of sales and under 100 employees. The tax for small business requires different forms to fill out and file than those of larger concerns. Nevertheless, the type of taxes levelled on small business vary little in the basics from larger corporations. A small business is still required to file with the IRS an income tax form. There is an employment tax form to file. This includes basic information on social security and medicare taxes as well as data concerning the withholding of federal income tax and federal employment tax (FUT). Depending upon the product of the small business, there may also be an excise. If the owner is self-employed by the business, there is another form regarding social security and medicare taxes. In addition, a municipality, county or state may require property taxes. Payment of sales taxes is another possible requirement. An accountant and a tax attorney can provide you with information on the tax for small business. This should include not only what types but also how much, at what time and using what accounting method.