Save your company some money with Franchise Tax
Franchise tax is now being charges by several states
. It is mainly determined by the net worth of the tax payer and not necessarily on income of the franchise. Raising revenue for the state is the main goal of franchise tax and it becoming more common every day.With franchise tax, one should also be careful as to whether they operate out of the state or not. This can significantly change yourfranchise tax. For those that own several franchises across several states, franchise tax tends to me much higher. It is also tied to the amount of income tax a franchise pays.
Many franchise owners use a tax credit processing company to offset their franchise tax and corporate tax liability in general. This is due to the large amount of W-2s a typical franchise has on an annual basis. The more W-2s means the more employee based tax credits. These employee based tax credits are in many cases impossible to get without an employee tax credit processing specialist.
It is not cost effective for a CPA or a franchise to try and administer the thousands of employee tax credits in-house. Franchises and CPAs alike can minimize their exposure and make sure they take full advantage of all the credits they qualify for by using a tax credit processing center.
This is due to the large amount of W-2s a typical franchise has on an annual basis. The more W-2s means the more employee based tax credits. These employee based tax credits are in many cases impossible to get without an employee tax credit processing specialist.
Save your company some money with Franchise Tax
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