Franchise Taxes

News & Analysis as of

State + Local Tax Insights -- Spring 2014

In This Issue: - Where’s Walden? Finding Protection under the Due Process Clause - Upcoming Speaking Engagements - CFCs and Subpart F Income in a California Water’s-Edge Election and What’s Wrong with the Apple...more

Inside the New York Budget Bill Part Four: Nexus

This installment of Inside the New York Budget Bill examines the Budget Bill’s nexus provisions. Although these provisions may have limited impact on current New York taxpayers, they will significantly affect corporations...more

California Continues Crackdown on 1031 Exchanges

During the last several years, the California Franchise Tax Board (“FTB”) has been closely scrutinizing section 1031 exchanges, and finding section 1031 exchanges to be a fruitful area for state tax audits. While California...more

PA Tax Law News - February 2014

In This Issue: PA Governor's Budget Proposal Preserves Capital Stock/Franchise Tax Phase-out; Shopping Guides and Inserts; Documentation Requirements for Sales of Fuel Oil; Property Tax Notes; and PA Issues on Appeal -...more

The Womble Carlyle Economic Development Digest - February 19, 2014

Womble Carlyle’s Economic Development Digest aggregates news, opportunities and legislation impacting business in the United States....more

Thanks for Being a Delaware Corporation: Here Is Your $180,000 Franchise Tax Bill

Delaware is the state of incorporation for a majority of venture-backed and publicly-traded corporations. The Delaware courts have developed considerable expertise in dealing with corporate issues and there is a substantial...more

Spotlight on Tennessee: Department of Revenue Addresses Manufacturer's Sourcing of Drop Shipment Receipts

For Tennessee excise and franchise tax purposes, a taxpayer that has business activities taxable both inside and outside this state must apportion its business net earnings and net worth using a three-factor apportionment...more

NY Governor Cuomo Proposes Sweeping Tax Reform

Introduction - On January 21, 2014, New York State Governor Andrew M. Cuomo (D-N.Y.) released his 2014-2015 Executive Budget (Budget). Among other reforms, the Budget proposes sweeping changes to the Article 32 bank...more

Franchise tax due on or before March 1 for Delaware corporations: two methods of calculation, two vastly different results

Just a reminder to those who have Delaware corporations, your annual report and franchise tax payment are both due on or before March 1 (which falls on a Saturday this year). At this point, you have likely already received...more

Focused on Franchise Law - January 2014

FRANCHISOR 101: ITEM 19: MAKE A LIST AND CHECK IT TWICE - Hardware store franchisor, Ace Hardware Corporation, recently prevailed in several fraud claims brought by two former Indiana franchisees in Avon Hardware Co.,...more

Spotlight on Tennessee: DOR Clarifies Franchise and Excise Tax Classification of SMLLCs and Series LLCs

In November, the Tennessee Department of Revenue (Department) issued two notices to help clarify Franchise and Excise Tax classification of single member LLCs (SMLLCs) and series LLCs. ...more

1031 Exchanges: Exchanging Out of California? Do Keep In Touch

As we have noted previously, many property owners are aware that one can sell investment property and reinvest the sales proceeds in like-kind investment property without having to pay tax on the sale. Such transactions are...more

Are Corporations Profitable?

Do corporations make a profit? I think it is beyond peradventure that some corporations make a profit. But do most (i.e., more than half) make a profit? If more than half do make a profit, how many more than half?...more

California Quarterly Update -- A Reed Smith Quarterly Update (3rd Quarter 2013)

Welcome to the Reed Smith California State Tax Quarterly Update for the 3rd Quarter of 2013. With fall in full swing and summer an almost distant memory, we will update you on recent happenings in the California tax world,...more

State + Local Tax Insights -- Fall 2013

In This Issue: “Occasional Sales” and Single Sales Factor Apportionment in California; Upcoming Speaking Engagements; State Taxation of Financial Institutions; Applying the True Object Test to Determine the Taxability...more

2013 Texas Legislative Session Review

THE CURRENT ERA OF AMERICAN POLITICS IS OFTEN LAMENTED AS EXCESSIVELY PARTISAN, IDEOLOGICAL, AND RANCOROUS. And Texas politics has often held its own in those regards. But to many observers, the recently completed 2013 Texas...more

PA Tax Law News -- September 2013: PA Issues On Appeal – Corporate Taxes

Under Pennsylvania’s tax appeals system, many issues are not resolved at audit or before the Department’s Board of Appeals and the Board of Finance and Revenue, resulting in numerous appeals to the Commonwealth Court. In...more

Pennsylvania Tax Developments - A Reed Smith Quarterly Update (2nd Quarter 2013)

This is a brief update on recent Pennsylvania tax developments. It is intended to provide an overview of issues and cases to watch, as well as administrative and legislative developments....more

60 Acres And A Lawsuit Challenging The FTB’s Interpretation of “Doing Business”

Swart Enterprises, Inc. is an Iowa corporation. It operates a farm of some 60 acres of crop land in Kansas. Swart has no physical presence in California. It owns no real or personal property in California. It has no...more

PA Tax Law News -- July 2013

In This Issue: PA Capital Stock/Franchise Tax Phase-Out Deferred; PA Board of Finance and Revenue Reconstituted as Independent Tax Tribunal; Annual PA Property Valuation Appeals Due Soon; Telecom Gross Receipts Tax...more

Texas enacts taxpayer-friendly revisions to franchise tax

Governor Rick Perry has signed into law Texas HB 500, which provides for certain changes to the Texas franchise tax provisions. ...more

PA Capital Stock/Franchise Tax Phase-out Deferred; Related Party Addback Enacted; Numerous Other Tax and Credit Changes Made

On June 30th Governor Corbett signed a $28.4 billion state appropriations package which provides modest increases in some areas and flat funding in others. Although the popular press suggested that the budget included no...more

Spotlight on Tennessee: 2013 Tax and Related Legislation

The 2013 Session, 108th General Assembly, considered numerous tax and related initiatives, many of which passed. The subject matter of these initiatives this year was very broad, ranging from efforts toward amending the...more

Comparison of Economic Development Incentives for South Carolina and North Carolina

In This Presentation: - Business Consideration – Electricity Rates - South Carolina vs. North Carolina - Corporate License Fees/ Franchise Taxes - Income Tax Rates (C Corps) - Income Tax...more

Major PA Tax Bill Passes: Franchise Tax is Back! Market Sourcing has Arrived; Addbacks Too

After months of negotiations and bargaining surrounding Pennsylvania’s budget, the House and Senate passed major tax code changes Tuesday (in House Bill 465). The bill is now on its way to Governor Corbett’s desk for...more

36 Results
|
View per page
Page: of 2