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Several states in America charge Franchise Tax when they wish to raise additional revenue for the state's coffers. In certain states this amount is based on the number of shares that the corporation issues or on the basis of their total assets. The amount of Franchise tax collected by different states differs considerably. The state of Nevada (which generates a lot of revenue from gambling) has none or extremely small amounts of franchise tax whereas the proportion or amount collected in Delaware is much higher.
The entire process of calculating the amount due can be based on the authorized shares method or the assumed per value capital method. The Federal Government does not recover any part of this revenue as it is a means of gathering funds for individual states.
The entire process of calculating the amount due can be based on the authorized shares method or the assumed per value capital method. The Federal Government does not recover any part of this revenue as it is a means of gathering funds for individual states.
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