n.a tax that is imposed by states on corporations; it depends both on the net worth of the corporation and on its net income attributable to activities within the state
Check with us about these strategies, as there are some states such as California that have higher franchisetaxes on S-Corps, but usually materially less than the possible SE tax savings.
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".
"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.