C-208 pilot reported low fuel after takeoff. Pilot returned to departure airport and landed safely.

Narrative

On Day 0 at approximately XA:00 I was the Pilot in Command of a Cessna C-208. With an observer onboard; the flight was intended to be an area familiarization flight from ZZZ. After a normal preflight; startup; and systems check; all backed up by checklist; I taxied from the tie-down area for an intersection takeoff departing to the West on runway XX. After performing the Before Takeoff checklist ; I called Unicom announcing departure. Turning crosswind on the climb out; the LOW FUEL RESERVOIR annunciator illuminated. I stopped the climb and began an orbit about 1sm North of the field and consulted the emergency checklist. After running the checklist; the annunciator remained illuminated and I elected to land immediately on runway XY. Configured to land with flaps 20º I was on a close-in left base at approximately 300' when the engine surged once and then completely stopped. I did not have the ability to continue the tight turn to make the runway as the aircraft was bleeding off energy and rapidly approaching stall speed. I landed on the taxiway parallel to the runway and came to stop at a point East of Building A. On stopping safely with heavy braking I turned off the fuel selectors; pulled the firewall shutoff; and shut off all electrical systems. The aircraft was undamaged; and there was no injury to personnel or property.