franchise tax

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franchise tax

n. a state tax on corporations or businesses. (See: tax, corporation)

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Corporations can pay their franchise taxes online by visiting the Secretary of State's website at SoS.
Business reports, taxes due
Following this advice can help taxpayers avoid surprising demands by New York for franchise taxes, interest, and penalties.
Franchise taxes after dissolution
The client saved $2 million in state income taxes by filing amended returns that apportioned income from its home state into the other states where it had paid franchise taxes. Doing so substantially reduced the company's effective tax rate.
The surprising benefits of nexus: multistate taxation actually can lower a company's state income tax bill
For income tax purposes, including franchise taxes based on income, federal law (P.L.
Indecent Exposure
Some speakers at the meeting Monday suggested that all businesses pay franchise taxes. One suggested that the state look into ways to tax catalog sales, a suggestion McDonald said could be expanded to include Internet sales.
Business Group Starts Seeking Ideas to Replace Tax Shortfall
Twenty-nine percent mentioned low income or franchise taxes and 27 percent cited a low wage base.
Economic incentives pivotal in relocation decisions
(This article is limited to a discussion of income and franchise taxes. The company should balance these strategies with strategies for other state and local taxes, such as property taxes.)
Strategies to minimize state and local taxes
The state's sales tax - it's biggest single source of revenue - could also take a hit, because the court's ruling on franchise taxes turned on a legal definition that is also used in the sales tax code.
Court Ruling Could Undermine Major Taxes
Under this very broad definition, most state assessments, including some franchise taxes based on earned surplus or income taxes, qualify as income tax payments under the umbrella of ASC 740.
Uncertain tax positions for flowthrough entities: what is an income tax?
On August 23, TEI submitted comments to the Multistate Tax Commission on the MTC's uniformity proposed for a factor-presence nexus standard for apportioned and income and franchise taxes. While the Institute embraced the goal of crafting a "simple and certain standard for income and franchise tax nexus," it urged the MTC to abandon its uniformity proposal.
Should the CEO be required to sign the corporate tax return? Should the economic substance doctrine be codified? TEI resoundingly responds "no" institute offers views on transfer pricing, DISC/FSC, and several state, local, and provincial matters. (Recent Activities)
For example, she said franchise taxes were not really taxes but, rather, they were exchange transactions.
New accounting proposals
At 25 percent of the state and local tax burden, property taxes are substantially greater than sales and use taxes (19 percent) and franchise taxes (12 percent) as an economic concern.
Study finds assessment challenges lower taxes

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