Instead, the Department contends that the companies are subject to the franchise tax based on the actions of other entities.
FORBES: Sprint Uses Partnership Structure to Dodge Louisiana Corporate Tax
But it turns out her state also has a franchise tax on corporations she must pay separately, based on her total revenues.
The California Franchise Tax Board (FTB) held that a Nevada Company was commercially domiciled in California because it was owned by the California resident.
FORBES: Nevada Corporation Solely Owned By California Resident Dodges California Taxes
Her publicist said she had "repeatedly attempted to offer re-payment plans and proposals to the IRS and the California Franchise Tax Board for taxes owed".
Earlier this year the California Franchise Tax Board sent delinquency letters demanding taxes, interest and penalties to 28, 000 taxpayers who had paid their state income taxes on time.
Recently, inaction by the California Franchise Tax Board (FTB) gave all Silicon Valley entrepreneurs a clear signal: make your residence in California a temporary or transitory one.
FORBES: For Entrepreneurs, California's Tax Code Becomes The Roach Motel
The Civitas report evaluates the economic benefits from eliminating the personal income tax, the corporate income tax, and the franchise tax, all of which penalize businesses and hinder job creation.
And as part of any deal, it wants Congress to affirm that the states can't levy other taxes--such as a corporate income or franchise tax--on companies without facilities in a state.
Amazingly, the California Board of Equalization and the state Franchise Tax Board have had the authority to create tax whistleblower programs since 1984, but neither has had the vision to do so.
FORBES: To Cut California's Budget Gap, Cut One Sentence From State Whistleblower Law
"In light of the magnitude of her tax liabilities, Warwick has repeatedly attempted to offer repayment plans and proposals to the IRS and the California Franchise Tax Board for taxes owed, " Sasaki said.
CNN: Dionne Warwick, down to $1,000 cash, files for bankruptcy
According to the Department, it is significant for franchise tax purposes that Sprint Corporation chose to carry out its telecommunications business in Louisiana through Sprint Communications LP and that it chose to direct that partnership through the companies and US Telecom, which were wholly-owned subsidiaries.
FORBES: Sprint Uses Partnership Structure to Dodge Louisiana Corporate Tax
FORBES: California's State Tax Board Dims The Lights On Some Of Our Brightest Entrepreneurs
Professor McDonnell has written extensively on such sports topics as revenue sharing, luxury tax, franchise management and player development.
Wavers for the popular franchise dress in costume and wave, dance and otherwise attract attention to Liberty Tax offices during tax season.
FORBES: Arrest of Dancing Mascot Puts Liberty Tax Wavers In The Spotlight
Check with us about these strategies, as there are some states such as California that have higher franchise taxes on S-Corps, but usually materially less than the possible SE tax savings.
应用推荐