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Jordan24
04-20-2008, 10:36 AM
I'm planning on opening a haunt possibly this year, but most likly in 09'.

I know I should have brought this question up with my finacial advisor months ago, but I still haven't got around to do it.

I was wondering how much taxes are paid on a haunted attraction. Would you just be taxed as much as any other bussines around 30%? Or is there some type of different tax code for a special event type of bussines?

Thanks,

SomeThingInTheIce
04-21-2008, 02:14 PM
Taxes....taxes.....we don't pay no stinking taxes.lol.

I it would depend on how you set up. Sole Proprietorship, Partnership, Corporation, LLC, S corp. The easy one is Sole Proprietorship, difficulty and cost to form, maintain and tax preparation is very low. However libility risk is very high, you would pay tax on all the money that comes in as your income but you would be at risk for all the bills (people could sue you and not only take the business but all that you own because you ARE the business) Many start out as a Sole proprietorship and as the business grows and takes on more risk they then change the legal structure. Best thing to do would be to set down with someone from the small business administion and talk to them, it's free and they can give all the info you need. Good luck.