10ptt20
New Member

I've already paid my annual state business tax of $1071.38 for 2016. Why do I have to pay self employment tax? or are they the same?

First year in business and only made $11645.

Get your taxes done using TurboTax

They are not the same.  SE tax is like Social Security - where you are both the employer and the employee.  I assume the "state business tax" you mention is your state income tax on your earnings.

View solution in original post

Get your taxes done using TurboTax

self employment tax is your self paid social security tax.  You have to pay it.
10ptt20
New Member

Get your taxes done using TurboTax

Yeah I figured as much. Thank you both for taking the time to reply! Happy Spring!