franchise tax


Also found in: Dictionary, Thesaurus, Financial, Wikipedia.

franchise tax

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

References in periodicals archive ?
"While the capital stock and foreign franchise taxes are no longer collected, some may be confused that the explanation of how they are calculated is still in state law." Mako said in a statement.
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.
Both the House and Senate - in different ways - are supporting legislation that would gradually shrink and then kill the franchise tax. If you want to make a government smaller, one way is to limit its income and force it to eventually cut spending.
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.