Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Franchise Taxes and other Franchise topics.
Franchise taxes are the taxes collected by state agencies. While the Federal government collects national taxes, each state has a state franchise tax board to oversee the collection of state taxes. State taxes are paid by both individuals and businesses operating within a designated state. If you have businesses in multiple states, you will need to keep track of the franchise tax owed to each franchise tax board.
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Lynne Christen |