Is proration of the franchise tax permitted when the return covers a tax period of less than 12 months?

Yes, for tax periods ending on or after May 13, 2013, the franchise tax may be prorated to cover the proportionate part of the year covered by the return. On any return where the franchise tax is prorated, annualization of rent paid is required when computing the minimum franchise tax measure on Schedule G. The franchise tax cannot be prorated below the minimum $100 franchise tax.

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