FRANCHISE TAX • DICCIONARIO INGLES.COM • Definition of Franchise tax

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/frˈæntʃˌaɪz tæks/ Listen

Franchise tax

noun

A tax that is imposed by states on corporations; it depends both on the net worth of the corporation and on its net income attributable to activities within the state.

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Etymology of 'Franchise tax'

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"Franchise tax" Quotes from Famous Books

... Assembly may levy a tax on incomes in excess of six hundred dollars per annum; may levy a license tax upon any business which cannot be reached by the ad valorem system; and may impose state franchise taxes, and in imposing a franchise tax, may, in its discretion, make the same in lieu of taxes upon other property, in whole or in part, of a transportation, industrial, or commercial corporation. Whenever a franchise tax shall be imposed upon ...

— Civil Government of Virginia • William F. Fox

Words linked to "Franchise tax" : taxation, tax, revenue enhancement