Step 8: Register for Local Taxes
You’re starting a business!! In the last step we showed you how to acquire your federal Employee Identification Number. If you are starting a business in Atlanta, then you will also need a Georgia Tax ID for your business so that you can pay state taxes. According to the City of Atlanta, you will need to, “Register with your state to obtain a tax identification number, workers’ compensation, unemployment and disability insurance.” That’s actually three different steps so let’s break it down.
PART 1 Georgia Tax ID Number https://gtc.dor.ga.gov/_/#1
This link will take you to the homepage for all things related to Georgia State Business Taxes. You’ll need to create an account so have your business information ready. After that you can also apply for tax credits, licenses, check your refunds, submit documents, and process payments. You will use this website for as long as your business is in operation, so get familiar with the sections and how they operate.
PART 2 File Employee Wages and Unemployment Insurance https://dol.georgia.gov/file-tax-and-wage-reports-and-make-payments
The Georgia Department of Labor handles workers’ compensation claims and unemployment insurance (UI). You’ll need to report these numbers to the GA-DOL and, “must be filed on or before April 30th, July 31st, October 31st, and January 31st.” It is very important that you understand and implement systems that account for all employee’s wages.
PART 3 Workers’ Compensation and Insurance https://sbwc.georgia.gov/insurers-self-insurers-and-group-funds-sbwc-id
The Georgia State Board of Workers’ Compensation handles claims and health insurance verification services. The stated mission on their website say they are here, “…to provide superior access to the Georgia Workers’ Compensation program for injured workers and employers in a manner that is sensitive, responsive, and effective and to insure efficient processing and swift, fair resolution of claims, while encouraging workplace safety and return to work.” Make sure, as a business owner, that you understand your relationship to this organization.
You’ve made it! You are another step closer to starting your business. Next step, we learn how to obtain business licenses and permits. Once you have looked over this information and you feel like you understand the basics…then take a 5 minute break. Take a look out the window, then remind yourself that you can do this. We will help you, so let’s keep working on starting your business!
Georgia Tax Info: https://georgia.gov/popular-topic/state-taxpayer-identification-number
Georgia Tax FAQ: https://dor.georgia.gov/faqs#GTC
Georgia Tax Center: https://gtc.dor.ga.gov/_/