Franchise & Excise Tax

• What is the due date for a franchise and excise tax return that covers less than 12 months?
• Is there a cap on deductible business interest expense for excise tax purposes?
• Are state and local tax incentives and grants included in net earnings for excise tax purposes?
• How are dividend and interest income sourced for purposes of the receipts factor of the apportionment ratio?
• Should the Consolidated Net Worth Election Registration Application include an insurance company if it is an affiliated group member?
• Are virtual currency transactions reported for franchise and excise tax?
• Is a single member limited liability company owned by an S corporation disregarded for franchise and excise tax purposes?
• Is a limited partnership that is disregarded for federal income tax purposes also disregarded for franchise and excise tax purposes?
• How do I determine the number of jobs that qualify for the standard job tax credit if jobs are created in multiple enhancement counties?
• Who may claim a credit against franchise and excise tax for purchases of qualified broadband internet access equipment?
• What is the first date equipment may qualify for the Broadband Internet Access Credit?
• Do I need to file a Form IE if the intangible expense deduction was granted on a previously filed Form IE-A?
• Is there more than one formula for apportioning franchise and excise tax?
• May manufacturers elect to use the single sales factor to apportion?
• Must all affiliates be listed on the Consolidated Net Worth Election Registration Application?
• May the net worth franchise tax base be computed on a consolidated basis when one member of the affiliated group has a different year end?
• What documentation should be maintained to support a job tax credit taken?
• What is an affiliated group for franchise & excise tax purposes?
• Who must use market-based sourcing?
• Will a taxpayer that has created a total of ten qualifying jobs in two census tracts qualify for the community resurgence jobs tax credit?
• For purposes of the franchise and excise tax, how should taxpayers in the telecom industry source their receipts from other-than-tangible-personal-property sales?
• Who has the right to apportion?
• What are the various types of job tax credit, and may a taxpayer qualify for more than one?
• Should a multistate calendar year taxpayer triple weight its receipts factor for receipts between July 1 and December 31 of 2016?
• How do I calculate the required amount of each franchise & excise tax estimated tax payment?
• When can a taxpayer offset rent included in the franchise tax base by sub-rental receipts?
• Is there a credit against franchise and excise tax for gross premiums tax paid?
• If financial statements are prepared using liquidation basis of accounting, in accordance with generally accepted accounting principles (“GAAP”), should they be used to complete Schedules F and G for the franchise tax?
• When is real estate rent paid to an affiliate not deductible for excise tax purposes?
• When does the ownership of a general partnership create franchise and excise tax nexus for its owner?