UIA's revenue defensibility assessment of Midrange reflects the potential volatility of business revenues offset, to a reduced degree over time, by the stability provided by the pledge from contracting city-members to provide a limited amount of
franchise tax revenues.
7458, telcos will have to pay a
franchise tax of 3 percent on gas and water utilities, and a
franchise tax of 2 percent on gross receipts derived from the business.
The
franchise tax is in lieu of all kinds of taxes, fees and charges imposed by the national and local governments.
In the first part of this article, I will discuss Skelly and assess its current vitality, (9) with particular reference to so-called "mirror-image" cases, a complex category that includes
Franchise Tax Board as an example.
As always, the members enjoyed hearing the latest and greatest from Selvi Stanislaus, executive director of the
Franchise Tax Board.
For example, in California this is accomplished by filing Form 3500A, Submission of Exemption Request, and attaching a copy of the organization's federal determination letter; North Carolina requires a tax-exempt organization to send the Department of Revenue a copy of its articles of incorporation and bylaws to demonstrate its exempt purpose before it will grant an exemption from North Carolina income and
franchise taxes.
Annual reports and
franchise taxes are due by midnight Monday, May 2, to the Secretary of State's Business & Commercial Services Division, Secretary of State Mark Martin is reminding Arkansas businesses.
The CAT's enabling legislation declares that it does not violate the state constitution in this regard because it is not a sales or excise tax but a
franchise tax, imposed for the privilege of doing business in Ohio.
The 2005/2006 New York State Budget Act reduced the entire net income (ENI)--based general corporation
franchise tax (Article 9-A) for small business taxpayers from 6.85% to 6.5%.
Currently, most companies pay a corporate
franchise tax in Texas.