Entrepreneurship and Small Business Management

Section 2: Handling Government Regulations

Section 8.2 Summary
Laws and regulations affect business owners' relationships with employees, with other businesses, and with customers. They are designed to protect these groups from unfair, unsafe, or unhealthy business practices. In hiring and compensating employees, a business may not discriminate on the basis of age, race, color, national origin, religion, gender, or physical challenge. Federal law protects consumers against price discrimination, unscrupulous sellers, unreasonable credit terms, and unsafe and mislabeled products. Businesses are responsible for collecting and paying sales taxes; payroll taxes; unemployment taxes; and federal, state, and local income taxes. It is important to research your legal obligations or seek legal advice at each stage of developing a business.

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