This franchise tax is required by any type of business entity offering limited liability. Besides a limited liability company, this includes corporations, limited partnerships, and limited liability partnerships. You can avoid this fee if you have a sole proprietorship or general partnership. Additionally, non-profit corporations that have a tax-exemption from the IRS are also exempt from this fee.
This franchise tax is required by any type of business entity offering limited liability. Besides a limited liability company, this includes corporations, limited partnerships, and limited liability partnerships. You can avoid this fee if you have a sole proprietorship or general partnership. Additionally, non-profit corporations that have a tax-exemption from the IRS are also exempt from this fee.