franchise tax


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Noun1.franchise tax - a tax that is imposed by states on corporations; it depends both on the net worth of the corporation and on its net income attributable to activities within the state
revenue enhancement, tax, taxation - charge against a citizen's person or property or activity for the support of government
References in periodicals archive ?
Several states impose a capital-based franchise tax in addition to a corporate income tax.
Greg Abbott's first public veto threat, lawmakers sent a bill cutting the business franchise tax to his desk Thursday.
Titan sought to remove these payments from its revenue on its Texas franchise tax reports.
Most corporations pay the minimum franchise tax rate of $150.
Ohio enacted the CAT in 2005 "on each person with taxable gross receipts for the privilege of doing business in this state" as part of a major reform that included a reduction of personal income tax rates and gradual repeal of personal property taxes and a previous corporate franchise tax.
On June 27, 2009, Tax Executives Institute filed the following comments with the Republican and Democratic leaders of the House and Senate Finance Committees of the North Carolina General Assembly concerning North Carolina Senate Bill 202, relating to a bill that would expand the State's franchise tax to pass-through entities and implement a "throwback rule" for taxpayers selling tangible products from locations in North Carolina to States in which they have no income tax reporting obligations.
Archibald's financial penalties include a $10,000 fine, and he was ordered to pay $155,000 restitution to Casden Properties and $25,780 to the state Franchise Tax Board.
Currently, most companies pay a corporate franchise tax in Texas.
The California Franchise Tax Board points out that electronic filing of state income taxes jumped 54 percent from last year.
According to Siegler a major concern of the organization is the inconsistent method by which the franchise tax is computed in New York City.
A company may be able to reduce its corporate income or franchise tax by understanding the methodology each state uses in determining the receipts factor of its apportionment formula.
The Franchise Tax Board (FTB) today announced that the public is invited to attend FTB's annual Taxpayers' Bill of Rights hearing later this month.