Drake Tax - 1120: States with Franchise Tax
Article #: 14929
Last Updated: October 21, 2024
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 website. Be sure to check for additional requirements for each state in which a corporation must file.
-
Illinois
-
IL has an annual report, Form BCA 14.05, on 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.
-