TABLE D
Franchise Tax & Filing Fees
|
State |
Tax Base |
Tax Rate Per $1,000 |
Minimum Tax |
Maximum Tax |
Apportionment Factor |
|
Alabama |
(see note 1) |
.25-1.75; 5.3 |
100 /150 |
15,250/1,500,000 |
same as income |
|
Arkansas |
capital stock |
2.7 |
50 |
1,075,000 |
Arkansas assets / total assets |
|
Florida |
No Tax |
n/a |
n/a |
n/a |
n/a |
|
Georgia |
net worth |
tax table |
10 |
5,000 |
100% if incorporated in GA |
|
LOUISIANA |
net worth + debt; or real property |
1.50-3.0 |
10 |
n/a |
LA property & sales / total property & sales |
|
Mississippi |
net worth or real property |
2.5 |
25 |
n/a |
MS property & sales / total property & sales |
|
North Carolina |
(see note 2) |
1.5 |
35 |
n/a |
same as income |
|
Oklahoma |
net worth + debt |
1.25 |
10 |
20,000 |
same as income |
|
South Carolina |
capital stock + paid-in surplus |
1 |
25 |
n/a |
same as income |
|
Tennessee |
net worth; or real & personal property |
2.5 |
100 |
n/a |
same as income |
|
Texas |
taxable capital or earned surplus |
2.5;45 |
no minimum or maximum |
no minimum or maximum |
gross receipts single factor |
|
Virginia |
No Tax |
n/a |
n/a |
n/a |
n/a |
NOTES:
(1) Imposes both a privilege tax and a shares tax: Privilege tax is on net worth. Shares tax is on net worth minus inventory and market value of real property or the book value of real property plus the book value of taxable personal property.
(2) Net worth; 100% of book value of tangible property; or 55% of appraised value of all property taxed for ad valorem purposes.