Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 03-01-2008, 05:13 PM
Junior Member
 
Join Date: Feb 2007
Posts: 3
What is the Minimum Franchise Tax for C Corporation in the State of California?

Could you please tell me what is the Minimum Franchise Tax for C Corporation in the State of California?

Much appreciated!



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 03-01-2008, 05:20 PM
TaxGuru's Avatar
Tax Guru
 
Join Date: Jan 2007
Location: New Jersey, USA
Posts: 2,417
Blog Entries: 3
What is the Minimum Franchise Tax for C Corporation in the State of California?

What is the California Corporate Franchise Tax?
The corporate franchise tax is a tax that is "imposed for the privilege of exercising the corporate franchise in California. It is imposed on all corporations that do business in California."

What is the Minimum Franchise Tax:
According to California Franchise Tax Board, "Except for newly incorporated or qualified corporations, all corporations doing business in California are subject to the greater of 8.84% of the corporation's net income or a minimum tax of $800."

It is worth nothing that this tax is imposed "even if the corporation is inactive or operates at a loss during the year, and regardless of whether or not it did business for a full 12 months."

__________________
Find a CPA near you!

Ask TaxGuru Please refer to the legal disclaimer.


Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
What is the minimum California Franchise Tax for S Corporations in 2007? andri C-Corporation 1 02-29-2008 10:12 AM
What the minimum LLC filing fees for PA State? avatech Limited Liability Company 0 03-11-2007 03:42 PM
What are the minimum recordkeeping that I need to keep for my C corporation? katlee C-Corporation 1 03-04-2007 12:34 AM
New Jersey Minimum S Corporation Tax Rate Leah S-Corporation 0 02-16-2007 08:47 AM
Is my California State refund taxable on Federal Tax Return? pinky Income 1 01-28-2007 11:17 AM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.