Im wanting to start my own business an RV Park on a lake site somewhere in the state of Texas. If I charged $300 all bills included a month for 40 spaces at full capacity my gross income would be $144,000 a year.
My question is what would be my average percent of taxes each year on that business? Also are the property taxes separate or included in the business taxes? Lets say the property is 4 acres......
2007-11-30 14:48:45 · 2 answers · asked by gone4good 2 in Business & Finance ➔ Taxes ➔ United States
agin in this '?' is missing the location factor.
where location determines costs and taxes.
texas is BIG and taxes are varied.
pinpoint the location then contact the local tax enities.
2007-11-30 15:00:56 · answer #1 · answered by Anonymous · 0⤊ 0⤋
There are no income taxes in TX, for individuals or businesses. The fees for business licenses are modest in most of the state. The property taxes however are EXTREMELY high and will eat your lunch. A lakeside property will be expensive and will attract high taxes even by TX standards.
Your business plan needs work. $300 a month bills paid will leave you with little or no net profit at the end of the year. RVs are notoriously inefficient with utilities. You also need to factor in your occupancy rate. Few RV parks operate at 100% capacity year round. You might get some "snow birds" or "Winter Texans" from up north but your off-season occupancy won't be 100%.
2007-11-30 21:50:14 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋