Employment Taxes/Federal Employer Identification Number - All Businesses are required to obtain a federal employers tax identification number to report corporate income tax and to submit federal payroll taxes. Businesses are required by law to withhold the following from wages paid to employees:
1. Federal Income Tax
2. State Income Tax
3. FICA (Social Security) Insurance
Federal income tax information and assistance may be obtained by calling the United States Internal Revenue Service at (404) 522-0050. State income tax information is available through the Georgia Department of Revenue at (404) 656-4165.
Sales Taxes - Businesses are required to collect sales tax on the retail sale of merchandise, the rental of certain items, and for certain services. In Cobb County the retail sales tax rate is 6%. Before operating your business, you must apply to the State for a sales tax number, which will be sent to you with instructions for collecting, reporting and remitting these
tax monies to the State. Contact the Georgia Department of Revenue at (404) 656-4092 to obtain a sales tax number and forms.
Unemployment Insurance - The State of Georgia requires a business to pay an unemployment insurance tax on its payrolls if the business has one or more employees for twenty (20) weeks in a calendar year or it has paid gross wages of over $1500.00 in a calendar year. The taxes are payable at a rate of 2.7% on the first $8500.00 in annual wages of an employee. Unemployment insurance must be reported and returns made to the
State of Georgia. For more information contact the Georgia Department of Labor/Adjudication Section at (404) 656-5590.
Property Taxes - Like all Georgia Counties, Cobb County taxes real and personal property located within the County. Property is assessed at 40% of its fair market value. The taxes are levied on the assessed value of all real and personal property a business owns on January 1st of each year. Property tax rates vary among the municipalities within Cobb County. The tax returns for both real and personal property must be filed by
April 1st of each year. The payment of taxes, however, must be made no later than October 15th. For information regarding personal or real property taxes in Cobb County, contact the Tax Assessor at (770) 528-3100 or the Tax Commissioners Office at (770) 528-8600.
Income Taxes - Both the Federal government and the State of Georgia levy income taxes on the earnings of any business in Cobb County. Each business therefore must file an income tax return with the Federal Government and the State of Georgia on the applicable forms. A business may be required to file estimated tax returns and pay estimated taxes on a quarterly basis to both State and Federal Government. For more information and
assistance call the United States Internal Revenue Service at (404) 522-0050. State income tax information is available through the Georgia Department of Revenue at (404) 656-4165.