Drake Tax - NC - Minimum Franchise Tax

Per the NC S corporation Instructions:

"The franchise tax rate is $200 for the first one million dollars ($1,000,000) of the corporation’s tax base and $1.50 per $1,000 of its tax base that exceeds one million dollars ($1,000,000). The franchise tax can be no less than $200 with no maximum except for a qualified holding company."

Per the NC Corporation Instructions:

"Franchise tax is computed by applying the rate of $1.50 per $1,000.00, and can be no less than $200."