Small business deals with needs beyond the pocketbook

The following list is from a small area timber-related business with the requirements, fees, taxes, and mandates for doing business in a community with about a 70 percent poverty rate. Payments have to be accurate and timely to each agency.
FEDERAL TAXES & REPORTS
IRS—corporate taxes
International Fuel Tax (IFTA) Federal Highway Use Tax (2290 Form)
Federal Unemployment Tax (FUTA) Federal Payroll Reports (941)
FICA- Social Security Taxes

OREGON STATE TAXES & REPORTS
Operating Permits—Department of Forestry
Severance Tax—Timber
Harvest Tax—Timber
Oregon Corporate Tax
Payroll Reports and Taxes
State Unemployment Tax
ODOT—Transportation Rules, Documentation, Audits and Inspection
ODOT—Heavy haul permits & regulations
DMV—Equipment licensing
OSHA—Training & compliance
Safety committee
Continual Training and awareness
Documentation compliance and inspections
MSHA—Training & compliance (crusher rules)
General contractor license & requirements plus bonding
PUC reports—each truck, each mile, each day – Fees
Oregon Forestry – Fire Training

COUNTY TAXES & REPORTS
Personal Property Taxes & Reports
Real Property Taxes
Heavy haul permits & regulations
Weigh master regulations
Fire marshal, building compliance
County fire—hazardous materials reports, each location, each item
Department of Mining & Geology—reports & fees

CORPORATE REQUIREMENTS
CDL driver documentation
Driver’s physicals & fees
Drug testing of drivers (Pre-employment & Random)
First aid & safety training for all employees
CPR training
Workman’s compensation insurance on all employees
Workman’s compensation compliance
Workman’s compensation audits
General liability insurance — all properties
General liability insurance-all activities
Auto insurance — trucks & pickups
Cargo insurance — heavy haul
Umbrella insurance — above standard limits
Health Insurance on employees
City business license – office
Professional logging training
Banking fees, contracts, credit line, and interest payments
CPA regulations, financial statements, and balance sheets
RESPONSIBILITIES OF COMPANY
SOTIA membership, radios, & lobbying — industry information
Keep a full time shop mechanic, maintain a fleet of pickups
Bid competitively on new job opportunities
Arrange work schedules,oversee projects, equipment needs
Meet payroll, invoice customers, be responsible for paying bills
Oversee office functions, return all phone calls
Maintain the network of relationships
Keep abreast of news
Attend meetings regarding our industry network
MISC. CHARITABLE RESPONSIBILITIES
And now it is time to go to work to try and pay for the above list.

 

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