Rules, Regulations and Taxes for Your Food Truck Business
You can’t escape real-world licenses, permits and regulations, and they’re particularly onerous for a food-based business. You will need to explore local, state and federal licenses and permits, and we can also help out with researching your business licensing needs. Pay particular attention to any permits or licenses needed for safety and hygiene.
Taxes are a fact of life if you’re in business, and there are various ways you will need to file and pay them. This can include self-employment tax, state income tax and federal income tax. It’s also very likely that the food you sell will be subject to sales and use tax.
As a rule of thumb, we recommend holding back around a third of your earnings to pay your taxes. We can also prepare and file your tax returns for you.