Search results
Results From The WOW.Com Content Network
A franchise tax is a government levy (tax) charged by some US states to certain business organizations such as corporations and partnerships with a nexus in the state. A franchise tax is not based on income. Rather, the typical franchise tax calculation is based on the net worth of capital held by the entity. The franchise tax effectively ...
Texas – no individual income tax but imposes a franchise tax on corporations. In May 2007, the legislature modified the franchise tax by enacting a modified gross margin tax on certain businesses (sole proprietorships and some partnerships were automatically exempt; corporations with receipts below a certain level were also exempt as were ...
Texas [l] Franchise Tax rate Franchise Tax rate Utah [c] 5% $0 Vermont 6% 7% 8.5% $0 $10K $25K Virginia 6% $0 Washington [c] None None West Virginia 8.5% $0 Wisconsin 7.9% 0 Wyoming None None District of Columbia 9.975% $0
For premium support please call: 800-290-4726 more ways to reach us
The franchise tax can be an amount based on revenue, an amount based on profits, or an amount based on the number of owners or the amount of capital employed in the state, or some combination of those factors, or simply a flat fee, as in Delaware. Effective in Texas for 2007 the franchise tax is replaced with the Texas Business Margin Tax. This ...
Now, many of those tax provisions are set to expire at the end of 2025, leaving an opportunity for the president to extend, and potentially expand, his tax policy agenda.
The business and occupation tax (often abbreviated as B&O tax or B/O tax) is a type of tax levied by the U.S. states of Washington, West Virginia, and, as of 2010, Ohio, [1] and by municipal governments in West Virginia and Kentucky. [2] It is a type of gross receipts tax because it is levied on gross income, rather than net income.
In turn, for this tax season, the reporting requirement for payments above $20,000 and exceeding 200 transactions within the calendar year will remain, instead of the much lowered new $600 amount.