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
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References in periodicals archive ?
1, the Taxpayers' Rights Advocate Office began administering the franchise and income tax portion of the Tax Appeals Assistance Program, which offers free legal assistance to eligible taxpayers of limited means who have filed an appeal to the Office of Tax Appeals on an action taken by the Franchise Tax Board.
In lieu of all these taxes and duties, a 3-percent franchise tax was proposed to be collected from SPSBC under the original bills.
Revenue stability is supported by pledged loans of franchise tax revenues from creditworthy, contracting member cities that UIA could call upon, if necessary.
Some provisions in TRAIN 2 might also be inflationary, the senator said, citing the franchise tax on telco companies that will 'probably be passed down to the consumer.'
Under the old rules, POGO was subject to five percent franchise tax based on predetermined minimum monthly income.
Look at the efforts to kill the state's business franchise tax. It's a significant source of state money - $7.6 billion every two years - but lots of businesses would like to kill it.
Nor would any discussion of Skelly be complete without attention to its adoptive child, Franchise Tax Board v.
The chapter hosted senior officials from the Internal Revenue Service, the Franchise Tax Board, the State Board of Equalization, and the County Office of the Assessor, as well as TEI Executive Director Eli Dicker.
Several states impose a capital-based franchise tax in addition to a corporate income tax.
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. It levies $150 on the first $1 million in taxable gross receipts (after exempting the first $150,000) and 0.26% on receipts above $1 million.