Mother to keep Genesis operating Jun 21, 2008
As part of the plea deal, Bernard will pay an additional $100,000 in restitution to Genesis and about $7,000 to the state Franchise Tax Board, which investigated the tax charges. Dela Torre does not have to pay additional restitution. (Fresno Bee -- Local)
Genesis case ends as deal is reached Jun 19, 2008
As part of the plea deal, Bernard will pay an additional $100,000 in restitution to Genesis and about $7,000 to the state Franchise Tax Board, which investigated the tax charges. Vogt also could fine her up to $20,000 for the two felony counts when she is sentenced. (Fresno Bee -- Local)
Marginalized by taxes Jun 18, 2008
The tax was originally passed in May 2006 to replace the previous franchise tax and to attempt to offset property tax burdens. It would do so by encompassing a greater number business that previously escaped the franchise tax by filing as limited liability corporations, among other distinctions ... Oddly, since this tax is a tax on revenue, not profits (as the previous franchise tax was), ridiculous situations will arise in which companies that are unprofitable or barely profitable end up owing... (The Daily Texan, TX)
What to expect as gay wedding bells ring Jun 16, 2008
The California Franchise Tax Board, however, allows domestic partners and now same-sex couples to file together, either jointly or separately. So domestic partners or married gay couples would file their state taxes together, but file federal taxes separately. (San Diego Union-Tribune)
Senate To Consider Tax Credits For Fire And EMS Volunteers Jun 13, 2008
Baker, establishes a $1,000 tax credit against an employer s personal income tax, corporate net income tax or capital stock and franchise tax for each member of the volunteer fire and/or emergency services employed full-time up to but not to exceed $5,000 per employer during a specific tax year. Senate Bill 1169, introduced by Sen. (Fulton County News, PA)
City residents may face millage hike to balance budget Jun 13, 2008
Revenues for the city include lease of assets, which generate about $2,664,995; local option sales tax will generate about $2,664,995; property taxes, $1,983,520; franchise tax, $1,844,963; business tax and license, $2,406,200; liscenses and permits $225,900; intergovernmental $520,186; services $443,656; fines and forfeitures, $739,950; interest and miscellaneous revenues $307,650; other financing $833,685. The council will hold its next public hearing and vote on the budget on June 23, 2008 at... (Calhoun Times, GA)
Theater investigation focused on 'skimming' Jun 6, 2008
" says Devon. I have never known any reputable executives (including the ones in my family) that do this. Corporate abuse and accounting fraud do exist. Some bad apples do and what's the result? Dennis Koslowski and Leona Helmsley did it- Leona got 3 years in prison, Koslowski was sentenced to up 25 years in prison (minimum 81/2). I suggest that you get your ethics in shape and I hope you never audit any company I am associated with. I also hope you don't have an encounter with the fiscal... (Palo Alto Online, CA)
Senate Race in Minnesota Shows Power of Bloggers May 25, 2008
Other reporters found the reason: California authorities said Mr. Franken s company had failed to pay franchise tax fees from 2003 to 2006, and owed nearly $5,000, which Mr. Franken has since paid. Mr. Franken s company paid no franchise taxes to the state in those years, Mr. Barr said, because Mr. Franken believed his accounting firm had shut down the corporation after 2002. (New York Times)
SEIU elects first black woman president May 24, 2008
Coming in second was Donna Snodgrass, vice president of the California State Employees Association (29 percent) and third was Ken Hamidi, a compliance representative for the Franchise Tax Board (26 percent). Local 1000 represents state employees from a wide variety of departments, but not peace officers, prison guards, firefighters, attorneys, physicians and other specialists. (San Francisco Chronicle -- Business)
Texas Business Tax Coalition seeks legislative relief on small business taxes May 20, 2008
Texas lawmakers approved a new gross-receipts tax, or Texas Margins Tax, during the last legislative session that replaced the previous franchise tax. Through it, businesses are taxed on the lesser of three values: total revenue minus the cost of goods sold, total revenue minus employee compensation and benefits or 70 percent of total revenue. (San Antonio Business Journal, TX)
STATE: Governor gambles budget on lottery May 15, 2008
We've got two tax agencies (Franchise Tax Board & the Board of Equalization), eliminate one of them and save several billion dollars. Come on, Arnold, cut the fluff. (North County Times)
Margin tax: Some firms ready to trade LP status May 11, 2008
Two years ago the Texas State Legislature passed House Bill 3, which drastically changed the state's franchise tax, a privilege tax which is placed on companies organized in or doing business in Texas. Now, some Texas businesses that enjoyed exemption under the franchise tax by filing as a limited partnership are faced with the decision of whether to continue as a limited partnership -- albeit without the tax break -- or convert to a different structure, shedding the now-burdensome overhead a... (Houston Business Journal, TX)
SAN RAMON Slaying of real estate investor tied to alleged bank fraud plot May 9, 2008
The California Franchise Tax Board sent him a series of liens demanding thousands of dollars in back taxes and penalties, and last month a bank financing his home in El Sobrante started the foreclosure process, claiming it had not been paid. E-mail Demian Bulwa at. (San Francisco Chronicle -- Sports)
Polymer Group, Inc. Announces First Quarter Results May 8, 2008
" ADJUSTED EBITDA Adjusted EBITDA, a non-GAAP financial measure defined below, for the first quarter of 2008 was $27.4 million. Fourth quarter 2007 Adjusted EBITDA was $27.4 million and $32.7 million in the first quarter of 2007. NON-GAAP FINANCIAL MEASURE Adjusted EBITDA (as defined below) is used in this release as a "non-GAAP financial measure," which is a measure of the company's financial performance that is different from measures calculated and presented in accordance with generally... (PR Newswire)
Alco Glass Inc. May 2, 2008
net margin-tax bills shouldn't exceed 200 percent of what the original franchise tax was, if a business paid that tax. establish a small-business advisory council to study the taxes' impacts on small business. (Dallas Business Journal, TX)
Comptroller extends deadline to file franchise tax Apr 23, 2008
Texas Comptroller Susan Combs on Tuesday said businesses that are unable to meet the May 15 due date for the franchise tax will have an additional 30 days to submit their returns or file an extension without penalty. The comptroller's office said it "recognizes the complexity of the revised franchise tax and the newness of the enhanced electronic reporting methods have caused concern among tax practitioners and taxpayers statewide." ... "We want to make sure businesses and tax practitioners have... (San Antonio Business Journal, TX)
Laureta departs KIUC board ... Hanapepe Library expansion clears hurdle ... Animal lovers rescue Kilauea kittens from cat coffin ... Happy Camper ... Administrative assistants honored at Friday event ... Celebrations ... Mathews family mahalo ... ';var marqueewidth="408px";var marqueeheight="25px";var marqueebgcolor="#white";////NO NEED TO EDIT BELOW THIS LINE////////////var pauseit=1;var marqueespeed=1 //slow speed down by 1 for NSvar copyspeed=marqueespeedvar pausespeed=(pauseit==0)? copyspeed: 0var iedom=document.all||document.getElementByIdif (iedom)document.write(''+marqueecontent+'')var actualwidth=''var cross_marquee, ns_marqueefunction populate(){if (iedom){cross_marquee=document.getElementById? document.getElementById("iemarquee") : document.all.iemarqueecross_marquee.style.left=parseInt(marqueewidth)+8+"px"cross_marquee.innerHTML=marqueecontentactualwidth=document.all? temp.offsetWidth : document.getElementById("temp").offsetWidth}else if (document.layers){ns_marquee=document.ns_marquee.document.ns_marquee2ns_marquee.left=parseInt(marqueewidth)+8ns_marquee.document.write(marqueecontent)ns_marquee.document.close()actualwidth=ns_marquee.document.width}lefttime=setInterval("scrollmarquee()",20)}window.onload=populate;function scrollmarquee(){if (iedom){if (parseInt(cross_marquee.style.left)>(actualwidth*(-1)+8))cross_marquee.style.left=parseInt(cross_marquee.style.left)-copyspeed+"px"elsecross_marquee.style.left=parseInt(marqueewidth)+8+"px"}else if (document.layers){if (ns_marquee.left>(actualwidth*(-1)+8))ns_marquee.left-=copyspeedelsens_marquee.left=parseInt(marqueewidth)+8}}if (iedom||document.layers){with (document){document.write('')if (iedom){write('')write('')write('')write('')}else if (document.layers){write('')write('')write('')}document.write('')}} Ben Sullivan steps away after offering testimony at the Kauai Island Utility Cooperative board meeting, yesterday afternoon. Photo by Dennis Fujimoto/The Garden Island KAUAI NEWS Laureta departs KIUC boardAt its regular meeting yesterday, the Kauai Island Utility Cooperative board of directors decided it will fill the seat vacated by Alfred Laureta, but did not specify when it would discuss potential candidates.More of this story Apr 23, 2008
The latter allows for payment of the franchise tax, which continues to rise due to fuel costs, without further authority. Blake Jones, business writer/assistant editor, can be reached at 245-3681 (ext. (Lihue Garden Island, HA)
First Defiance Announces 2008 First Quarter Earnings Apr 22, 2008
Consolidated Balance Sheets First Defiance Financial Corp. (Unaudited) March 31, December 31, (in thousands) 2008 2007 Assets Cash and cash equivalents Cash and amounts due from depository institutions $40,030 $53,976 Interest-bearing deposits 1,548 11,577 41,578 65,553 Securities Available-for sale, carried at fair value 123,566 112,370 Held-to-maturity, carried at amortized cost 1,081 1,117 124,647 113,487 Loans 1,535,354 1,289,696 Allowance for loan losses (18,556) (13,890) Loans, net... (PR Newswire)
American National Bankshares Inc. Reports $2.31 Million in First Quarter Earnings Apr 22, 2008
American National Bankshares Inc. and Subsidiaries Consolidated Balance Sheets (Dollars in thousands, except share data) Unaudited March 31 ASSETS 2008 2007 Cash and due from banks $20,310 $22,844 Interest-bearing deposits in other banks 4,218 22,817 Securities available for sale, at fair value 149,636 138,533 Securities held to maturity 11,039 13,475 Total securities 160,675 152,008 Loans held for sale 1,681 2,017 Loans, net of unearned income 554,667 543,357 Less allowance for loan losses... (PR Newswire)
Historic bldgs in limbo Apr 21, 2008
Ohio tax credits for historic buildings run out quickly- cleveland. UPDATED: 03 :21 a.m. EDT, April 21, 2008. (Cleveland.com)
Historic preservation programs by state Apr 21, 2008
Credits could be claimed against the building owner's Ohio corporate franchise tax, personal income tax or dealers-in-intangibles tax liability. Capped the program after awarding $120 million in credits to 37 projects. (Cleveland.com)
Formulating aid funding Apr 21, 2008
It is the direct descendant of the Public Utility Gross Receipts and Franchise Tax (PU-GRAFT) ... Among its many compo nents, CMPTRA includes the Financial Business Tax, the Business Personal Property Tax Replacement, the Railroad Class II Property Tax, the Insurance Franchise Tax and the Corporation Business Tax on Banking Institutions and a big chunk of state PILOT (payment in lieu of taxes) payments, which had been underfunded for many years prior to being folded into the consolidation. (NJ.com -- Times)
Margin tax deadline is May 15 Apr 19, 2008
On April 18, the Texas Comptroller of Public Accounts is mailing notices to more than 900,000 taxpayers statewide with instructions about the revised Texas Franchise Tax, also known as the margin tax. The deadline to file a report or request for extension for the revised tax is May 15. (North Channel Sun, TX)
Windstream not in debt to city Apr 18, 2008
com04/15/2008Updated 04/18/2008 02:06:04 AM CDT GREEN FOREST - There's no evidence that Windstream collected city franchise taxes on phone bills and then didn't give the money to the city, City Attorney Ben Wulff said Monday ... The Green Forest City Council approved the contract authorizing the company to collect a 4 percent franchise tax for the city Monday and it will be signed by Mayor Richard Deweese and the company ... Wulff said he hoped that the first six months of phone franchise taxes... (Buffalo Reflex, MO)
Selected recent California newspaper editorials Apr 17, 2008
April 15 is a day of obligation for California taxpayers, but the checks made out to the Franchise Tax Board will still leave the state short by about $8 billion. The schools, health care and infrastructure that Californians built in the golden era of growth and optimism face further crippling cuts. (San Francisco Chronicle -- Crime)
Leadership Union Tours City Facilities Apr 16, 2008
Following is a breakdown of the city's revenue in the 2007-08 fiscal year: sales tax, 31 percent; franchise tax (phones utilities and other taxes), 18 percent; miscellaneous revenue, 13 percent; real estate taxes, 10 percent; license and permits, 3 percent; personal property taxes, 3 percent; other taxes, 10 percent. Following is a breakdown of the city's expenditures in the 2007-08 fiscal year: personnel service, 49 percent; capital outlay, 27 percent; general services, 19 percent; maintenance... (Missourian Publishing, MO)
Big names owe big-time on taxes Apr 15, 2008
7 million in state taxes, according to the California Franchise Tax Board, which collects the state's income tax ... 7 million in state taxes, according to the California Franchise Tax Board, which collects the state's income tax ... 1 million to the state of California, according to the California Franchise Tax Board. (USA Today -- Money)
Why I Love the Taxman Apr 15, 2008
A number of years ago, I moved to California and promptly began to have my wages garnished by the California Franchise Tax Board on the theory that since I had not paid any taxes to California the previous year, I must owe them money. I called up the Tax Board, ready to explain that I didn't owe California any money from that year because I hadn't earned any money in California. (Slate)
Calif. Tax Board Reveals Top 10 Tax Errors Apr 13, 2008
-- With the tax deadline less than a week away, Franchise Tax Board officials cautioned people Thursday to avoid making mistakes in the mad rush to file their returns on time ... Theresa Gray, a spokeswoman at the Franchise Tax Board, said one of the errors happens more often than any other ... "Frequently taxpayers will claim the wrong amount - either too much or too little. They can find out very easily on the Franchise Tax Board Web site what it is they paid.". (NBC 11, CA)
Lawmakers pass state budget Apr 10, 2008
The budget enacts last-minute reforms to Wicks law for public construction projects and sunsets the corporate franchise tax for businesses. The budget arrived more than a week late, but it is $2 billion smaller than the proposed budget from former Gov. Eliot Spitzer, who resigned in March amid a prostitution scandal. (Albany Business Review, NY)
Filers beware of IRA bug in California return Apr 8, 2008
Some California taxpayers who file a joint return and contributed to a traditional individual retirement account last year might make a mistake on their 2007 state tax return if they use printed material sent out by the Franchise Tax Board or if they filed their returns using tax software before it was updated ... Tax pros in California are bewildered at the number of mistakes the Franchise Tax Board has made this year. (San Francisco Chronicle -- Business)
Calif. Tax Board Says O.J. Simpson Owes California $1.5 Million Apr 8, 2008
The Franchise Tax Board said Monday that the former football star owes the state $1. 5 million in back state income taxes. (NBC 11, CA)
Filing reprieve granted Apr 7, 2008
2007 Missouri corporate income/franchise tax returns. 2007 Financial institutions tax returns, including Bank Franchise Tax, Savings and Loan Tax, Fiduciary Tax, Credit Union Tax, Farmers Coop Intangible Property Tax, and Credit Institution Tax. (Rolla Daily News, MO)
New tax a moving target Apr 2, 2008
Glenn Callison, chairman and CEO of , said his law firm's tax bill is expected to jump tenfold for 2007, compared to the rate it paid under the former franchise tax. Under the old system, Munsch paid about $25,000 in franchise taxes ... He said it's indicative of the way the franchise tax came to be in June 2006. (Dallas Business Journal, TX)
Energy Policy and rising appraisal values a concern for legislators Apr 2, 2008
Targeted homestead relief was at the heart of the 2007 legislation, Moxley said, as well as phasing out the franchise tax over the next five years. Over the next five years, the 2007 package will represent $300 million in relief. (Abilene Recorder Chronicle)
Foundation leadership on diversity is missing Apr 2, 2008
And, the governor, facing a major budget crisis and substantial cuts in health, education and other social services to low-income families, may wish to ask the State Franchise Tax Board to report on the dollar amount of California taxpayer subsidies. Greenlining estimates it at $4 billion a year. (San Francisco Chronicle -- Opinion)
Truckers air gripes over rising fuel prices Apr 1, 2008
Combined revenue from the gasoline tax -- a liquid fuels tax of 12 cents, an oil company franchise tax that is indexed to the wholesale price, and a storage tank fee of 1. 1 cents -- and the diesel tax amounted to nearly $1. (Pittsburgh Post-Gazette, PA)
Caza Oil & Gas, Inc. Announces Results for the Year Ended December 31, 2007 Mar 31, 2008
12 %) Difference in statutory tax rates: Canada vs. US (69) (76) Stock-based compensation 127 723 Taxable income taxed in the LLC's - 37 Texas franchise tax 30 18 Other 67 76 ----------------------- Total (613) (69). Prior to September 14, 2006, the operations of the Company were conducted in a Texas limited liability company, Falcon Bay, and three other limited liability companies that were wholly owned by Falcon Bay. (CCNMatthews Press Releases)
Measure would provide funds for smoke detectors Mar 25, 2008
The fund could be added sooner if the state Franchise Tax Board finds that there is enough room to add it without adding a costly new page to tax forms ... 5 billion in tax refunds distributed that year, according to the Franchise Tax Board. (Fresno Bee -- Local)
Efforts underway to maintain Enterprise Zone momentum Mar 20, 2008
More information can be obtained by visiting the Department of Labor website and the Franchise Tax Board website. While it's great to receive the Enterprise Zone designation again we still have to continue our efforts to cultivate the business climate by outreach networking and marketing. (Mount Shasta News, CA)
Legislature wraps up work on Jindal's second special session Mar 18, 2008
Sent to the governor's desk were bills to eliminate a 1 percent state sales tax on business utilities and to speed up two phase-outs started under former Gov. Kathleen Blanco: the removal of the state sales tax on manufacturing equipment and the corporate franchise tax on debt. Jindal and legislators said the taxes were an impediment to Louisiana's ability to attract new businesses and to persuade existing companies to expand because neighboring states don't have similar taxes. (Leesville Daily Leader, LA)
Green Forest approves phone tax Mar 16, 2008
com03/14/2008Updated 03/16/2008 02:06:04 AM CDT GREEN FOREST - The Green Forest City Council began approving a contract giving the city a 4 percent franchise tax on residents' Windstream phone bills Monday, but didn't even discuss trying to get back the money residents may have paid in the past that didn't reach the city. The city's contract to collect franchise taxes was with Allied Telephone Company, which merged with another company and became Alltel in 1982 ... Mayor Richard Deweese said... (Buffalo Reflex, MO)
Legislature approves Jindal's $1 billion spending plan Mar 15, 2008
Lawmakers also agreed to speed up the removal of the state sales tax on manufacturing machinery and equipment and the corporate franchise tax levied on borrowed capital, two phase-outs started under former Gov. Kathleen Blanco. Many of the complaints centered on the governor's proposal for spending a surplus of more than $1 billion from the 2006-07 budget year. (WWLTV.com, LA)
Jindal backs tuition tax break Mar 9, 2008
Likewise, there will be little or no opposition to a quicker phaseout of the state sales tax on business purchases of machinery and equipment and of the state's franchise tax on borrowed capital, seen as burdens on companies attempting to expand operations. His plan might run into some flak when lawmakers vote to raise the state spending cap in order to spend the surplus, but that debate is likely to be more about partisan politics than real opposition. (Nola.com -- Sports)
Special Session set to begin Sunday Mar 6, 2008
Speed up the removal of the corporate franchise tax on debt, an elimination started under former Gov. Kathleen Blanco's administration. The tax was scheduled to be gone by July 1, 2011. (Leesville Daily Leader, LA)
Click for story Mar 5, 2008
He's also asking lawmakers to speed up -- but not immediately eliminate -- the removal of two other business taxes, the corporate franchise tax on debt and the state sales tax on manufacturing machinery and equipment. Those taxes are being phased out through 2012, under plans already approved by the Legislature and Blanco. (WWLTV.com, LA)
Liberty Media Reports Fourth Quarter Financial Results Feb 29, 2008
"We remain short of our revenue and operating cash flow objectives for the business but have maintained our pricing integrity, choosing not to discount to drive sales. On the operating cash flow side, despite tight controls on expenses, we experienced fourth quarter declines due to a shift away from higher margin categories and a difficult comparison to the fourth quarter of 2006 when we benefited from one-time gains including the release of $15 million in franchise tax reserves." George added,... (Yahoo! Wire -- Entertainment News)
City council needs to listen to the people when they say ‘No Franchise Tax!' Feb 26, 2008
City council needs to listen to the people when they say No Franchise Tax ... At exactly the time the MidAmerican bills are the highest, so is the franchise tax ... Has anyone ever figured how much extra cash a 3 percent franchise tax would have generated. (Fort Madison Daily Democrat, IO)
REP. TAYLOR NAMED CHAMPION FOR FREE ENTERPRISE Feb 26, 2008
Taylor also supported legislation correcting unintentional technical errors in the recently revised franchise tax. The new legislation provides greater tax relief to small businesses with the use of discounts based on a sliding scale. (Friendswood Journal, TX)
Woman faces sentencing in bat attack Feb 19, 2008
At the time, she was 45 and employed by the Franchise Tax Board. Wells testified at Sotelo's preliminary hearing, where she recalled the initial blows. (Fresno Bee -- Local)
Restitution letter puts fear in debtors Feb 19, 2008
"You have 30 days to voluntarily pay this amount before we submit your account to the Franchise Tax Board (FTB) for interagency intercept collections." ... The statewide effort, called the Interagency Intercept Collections program, has brought in more than a billion dollars statewide that might not have been collected otherwise, according to the Franchise Tax Board. (Modesto Bee, CA)
More of this story Feb 16, 2008
There will also be a 3 percent increase in the utility franchise tax of 27,750. The next steps in the budget process are as follows. (Roanoke Rapids Daily Herald, NC)
Will Wisconsin Voters Tip the Scale on Feb. 19? Feb 15, 2008
- AB 732 would provide an investment income and franchise tax credit for meat processing facilities. An executive session before the Assembly Ag Committee is planned for Feb. 12. (Agri-View, WI)
Store owner can't get Dellums' attention Feb 13, 2008
But he did get an official visit the other day - from a representative of the state Franchise Tax Board, who warned the storekeeper to pay up the taxes he owes. Or else. (San Francisco Chronicle -- Crime)
North San Diego County Community News Briefs: VFW plans Valentine's Day dinner/dance Feb 12, 2008
Internal Revenue Service- and Franchise Tax Board-trained volunteers will help individuals prepare their taxes at no cost. Tax returns will be filed electronically. (North County Times)
Lawmakers defend spending on golf, at casinos Feb 12, 2008
While a recent audit completed by the state Franchise Tax Board found Nez had substantially complied with campaign record-keeping rules, questions remain about his and other legislators' use of campaign money. Los Angeles County Sen. (San Francisco Chronicle)
State funds don’t cover towns’ road-paving needs Feb 11, 2008
The annual Liquid Fuels Tax Fund is financed, for the most part, from the state s gas tax and oil franchise tax, the latter fluctuating with the cost of wholesale gasoline. Money from the fund is distributed to municipalities based on population and miles of road within their borders. (Scranton Times, PA)
District 81 Issues: Part III Feb 11, 2008
So for example, 1 Do you consider the Perry Sharp Franchise Tax to violate the Texas state constitution provision forbidding an income tax. 2 Do you support in state college tuition for illegal aliens. (Odessa American, TX)
Former lawmaker now fighting for small businesses Feb 10, 2008
Also, the capital stock and franchise tax phase-out. (Mr. (Pittsburgh Post-Gazette, PA)
EOG Resources Reports 2007 Results and Increases Dividend Feb 8, 2008
01 Par, 640,000,000 Shares Authorized and 249,460,000 Shares Issued 202,495 202,495 Additional Paid In Capital 221,102 129,986 Accumulated Other Comprehensive Income 466,702 176,704 Retained Earnings 6,156,721 5,151,034 Common Stock Held in Treasury, 2,935,313 Shares at December 31, 2007 and 5,724,959 Shares at December 31, 2006 (61,903) (113,435) Total Stockholders' Equity 6,990,094 5,599,671 Total Liabilities and Stockholders' Equity $12,088,907 $9,402,160 EOG RESOURCES, INC. SUMMARY... (PR Newswire)
Gov. Rounds signs more bills into law Feb 8, 2008
HB1011 -- An Act to revise certain provisions regarding the bank franchise tax. HB1019 -- An Act to provide benefit formula improvements for the members of the South Dakota Retirement System. (Rapid City Journal, SD)
Business advocates say state budget 'raises' taxes Feb 7, 2008
By reducing the Capital Stock and Franchise Tax by less than expected in his proposed 2008 budget, local business organizations say Gov. Ed Rendell is effectively raising taxes on Pennsylvania businesses ... Businesses pay the capital stock and franchise tax on their assets, whether or not the business makes money ... "We still intend to be on schedule toward eliminating the capital stock and franchise tax.". (Pittsburgh Business Times, PA)
Why Clinton won the vote in California Feb 7, 2008
Senator Yee criticizes the bill for having the Franchise Tax Board garnish wages or put liens on mortgages to enforce a provision in the bill that requires everyone to share the responsibility of paying for health insurance. If you read the bill, that's not quite true. (San Francisco Chronicle -- Opinion)
Highlights of Rendell's 2008-09 budget Feb 6, 2008
Slows down the ongoing phaseout of the Capital Stock and Franchise Tax in 2009. The resulting $40 million would be used to finance hazardous-waste cleanups. (Carlisle Sentinel, PA)
Change in plan to cut tax angers Pa. business owners Feb 6, 2008
The offending provision pertains to the state's capital stock and franchise tax, which now stands at 2 ... "The bottom line is, it's still a reduction, and it will be equivalent to a $100 million business tax cut this year, and it will not affect the phaseout of the capital stock and franchise tax in 2011," he said ... The capital stock and franchise tax is a tax paid on a business' assets each year, regardless of how much money the business has made or lost that year. (Pittsburgh Post-Gazette, PA)
