Menu

Search

Knowledge Base


14929: 1120 - States with Franchise Tax


1120 Corporate

What states levy franchise tax on corporations operating in those states? 
 

Many states have a corporate income tax on the state level, however, in the following states, corporations may also be subject to franchise tax. For more details about each state's franchise tax requirements and rates, see the state DOR links included below. Be sure to check for additional requirements for each state in which a corporation must file. 

Alabama 

AL Business Privilege and Corporate Share Tax

AL Business Privilege Tax FAQs

Arkansas

AR Corporate Franchise Tax

Delaware  

DE Corporate Franchise Tax

Georgia

GA Corporate Income and Net Worth Tax

Illinois

IL has an annual report, form BCA 14.05on which franchise tax and fees are paid. This form, and the calculated taxes and fees, is administered and collected by the IL Secretary of State and thus is not supported in Drake Tax. IL also has a Corporate Income and Replacement tax form IL-1120 that is available in Drake Tax. 

Louisiana  

LA Corporate Income and Franchise Tax 

Mississippi

MS Corporate Income Tax

New York

NY Corporate Franchise Tax

North Carolina

NC Corporate Franchise Tax

Oklahoma

OK Corporate Franchise Tax

Tennessee

TN Corporate Franchise Tax

Texas

TX Corporate Franchise Tax

 

States that have discontinued Corporate Franchise Taxes:  

Kansas Franchise Tax was discontinued for tax years 2011 and after: KS Corporate Franchise Tax

Missouri Franchise Tax was discontinued for tax years beginning on or after January 1, 2016: MO Corporate Franchise Tax

Pennsylvania Franchise Tax was discontinued for tax years beginning on or after January 1, 2016: PA Corporate Franchise Tax

West Virginia Business Franchise Tax was discontinued for tax years beginning on or after January 1, 2015:
WV Franchise Tax 



Related Links


Also In This Category


Details
Article has been viewed 9.3K times.
Last Modified: 2 Months Ago
Options