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What (who) is franchise tax - definition
TAX IN THE UNITED STATES
franchise tax
n. a state tax on corporations or businesses.
See also: corporation tax
Franchise tax
A franchise tax is a government levy (tax) charged by some US states to certain business organizations such as corporations and partnerships with a nexus in the state. A franchise tax is not based on income.
Hotel tax
TYPE OF TAX
Bed tax; Transient occupancy tax; Lodging tax; Visitors' tax
A hotel tax or lodging tax is charged in most of the United States, to travelers when they rent accommodations (a room, rooms, entire home, or other living space) in a hotel, inn, tourist home or house, motel, or other lodging, generally unless the stay is for a period of 30 days or more. In addition to sales tax, it is collected when payment is made for the accommodation, and it is then remitted by the lodging operator to the city or county.
Wikipedia
Franchise tax
A franchise tax is a government levy (tax) charged by some US states to certain business organizations such as corporations and partnerships with a nexus in the state. A franchise tax is not based on income. Rather, the typical franchise tax calculation is based on the net worth of or capital held by the entity. The franchise tax effectively charges corporations for the privilege of doing business in the state.
Examples of use of franchise tax
1. In addition, businesses pay a franchise tax –– and generate sales taxes.
2. In 1'84, the Supreme Court struck down a New York franchise tax credit, but Cole said this situation is different.
3. The state has since begun to phase out the franchise tax entirely, partly in response to the Chrysler litigation.
4. He has made a priority to restructure the state‘s loophole–ridden franchise tax, which an estimated one in 16 businesses avoid paying.
5. At the time, Ohio let companies investing in new machinery take a 7.5 percent credit against their corporate franchise tax ––rising to 13.5 percent if, as in Chrysler‘s case, the equipment was used in an "economically depressed‘‘ area.