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4 Replies Last post: Apr 13, 2008 1:36 PM by Lighthouse24

restaurant commercial tax

Apr 13, 2008 1:01 AM

Click to view watermelon's profile Start-up watermelon 2 posts since
Apr 13, 2008
Hello ,
My husband and I are going to buy a small restaurant soon . Actually, it is already go to escrow . We need more information about restaurant commercial tax , Many small business easy to fail at the beginning since the business owner has no experience . How much is the commerical tax ? Any information will be appreciate.
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Click to view Lighthouse24's profile Mogul Lighthouse24 2,396 posts since
Oct 10, 2007
1. Re: restaurant commercial tax Apr 13, 2008 1:09 AM
Can you provide more information . . . type of restaurant and location (city and state)?
Click to view watermelon's profile Start-up watermelon 2 posts since
Apr 13, 2008
2. Re: restaurant commercial tax Apr 13, 2008 1:20 AM
in response to: Lighthouse24
Thanks for your reply . My restaurant is located in SIMI valley . East Los Angeles ave. It will be a Japanese and Chinese restaurant .
Click to view LUCKIEST's profile SCORE LUCKIEST 7,935 posts since
Aug 6, 2007
3. Re: restaurant commercial tax Apr 13, 2008 7:51 AM
watermelon, Restaurant and taxes, Welcome to this web site.
Anybody going into business should have an Accountant, A Lawyer
and an Insurance Agent. If you are in escrow you have a Lawyer.
*YES *Many small business fail at the beginning since the business owner has no experience.
SCORE can help. SCORE is FREE.
Good luck, LUCKIEST
Click to view Lighthouse24's profile Mogul Lighthouse24 2,396 posts since
Oct 10, 2007
4. Re: restaurant commercial tax Apr 13, 2008 1:36 PM

I'm not sure I know what you mean by "commercial tax." If you're asking how much the commercial tax credit is for a building that achieves a fifty percent annual energy cost reduction, it's $1.80 per square foot. If you asking how much sales tax is (which is called "commerce tax" in some parts of the world), it's 7.25 percent if you're in Simi Valley, Ventura County (all food and drink sales are taxable -- tips are not taxable if they are added in by the customer, but they are taxable if you add them bill yourself for large groups, for example).

Hope this helps. If you were asking about something else, please clarify.