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Simple English definitions for legal terms

franchise tax

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A quick definition of franchise tax:

Franchise tax: A tax that businesses or corporations have to pay to the state for the right to exist and do business in that state. It is not the same as income tax and must be paid even if the business doesn't make a profit. The amount of tax varies depending on the state and can be a flat fee or a percentage of the business's net worth. Some states only use the tax on small businesses while others use it on large corporations as well. If a business operates in multiple states, it may have to pay more than one franchise tax.

A more thorough explanation:

The franchise tax is a type of tax that states impose on businesses or corporations that are chartered within that state. This tax is charged for the right of the business or corporation to exist as a legal entity and to do business within a particular state.

For example, if a business is registered in the state of Delaware, it must pay a franchise tax to the state for the privilege of doing business there. The amount of the tax can vary depending on the state and the size of the business.

The franchise tax is not the same as income tax, which is based on the profits of the business. Instead, it is typically a flat fee or based on the net worth of the business. This means that even if a business does not make a profit, it still must pay the franchise tax.

Some states only use the tax on small businesses, while others use it on large corporations as well. If a business operates in multiple states, it may be subject to more than one franchise tax.

For example, in Delaware, the minimum franchise tax is $175.00 and the maximum is $250,000.00. In New York, the franchise tax ranges from $25.00 to $200,000.00.

Overall, the franchise tax is a way for states to generate revenue from businesses that operate within their borders. It is a cost of doing business in a particular state and must be paid by all businesses that are registered or operate within that state.

franchise agreement | franchisee

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i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
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the devil
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20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
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im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
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22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
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JumpySubsequentDolphin
22:39
@splitty Oregon!
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JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
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