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Franchise tax. 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 or capital held by the entity.
The Texas Comptroller of Public Accounts is an executive branch position created by the Texas Constitution. The comptroller is popularly elected every four years, and is primarily tasked with collecting all state tax revenue and estimating the amount of revenue that the Texas Legislature can spend each biennium.
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 ...
The gas tax in Texas is 20 cents per gallon, and there's a $1.41 tax on each pack of cigarettes. Hotels, bed and breakfasts and other short-term stay facilities tax guests at 6% of the cost of the ...
Since January 1, 2018, the nominal federal corporate tax rate in the United States of America is a flat 21% following the passage of the Tax Cuts and Jobs Act of 2017. State and local taxes and rules vary by jurisdiction, though many are based on federal concepts and definitions. Taxable income may differ from book income both as to timing of ...
The California Franchise Tax Board ( FTB) administers and collects state personal income tax and corporate franchise and income tax of California. It is part of the California Government Operations Agency . The board is composed of the California State Controller, the director of the California Department of Finance, and the chair of the ...
The franchise tax refunds are the largest, single new item in Tennessee Gov. Bill Lee's budget, recently approved by lawmakers. Majority of $1.5B franchise tax refunds would flow out of Tennessee ...
The Texas poll tax "required otherwise eligible voters to pay between $1.50 and $1.75 to register to vote – a lot of money at the time, and a big barrier to the working classes and poor". Georgia created a cumulative poll tax requirement in 1877: men of any race 21 to 60 years of age had to pay a sum of money for every year from the time they ...