Bangalore: Revenues and profits are all good only until you pay your startup taxes on time, if your company has started earning revenues and if you still don’t pay the taxes then the entire business game would flip and have a chaotic end. Tax trouble can strike a business anytime hence it is not advisable for business owners or startup entrepreneurs to postpone the payment of startup taxes. It is also generally seen that startups do some great mistakes when it comes to tax obligations, if you are a startup entrepreneur ensure that you avoid these biggest flaws while paying your startup taxes as compiled by forbes.com

7. Erroneous legal entity

Most startups go wrong in choosing their legal entity, you may chose any form of it like sole proprietor, partnership, or some form of corporation as a responsible legal entity for your startup. Here, there is no ‘right’ choice for your startup rather it works on the choice of your company.