|
State
|
State Minimum Tax
|
Amount
|
Memo
|
|
California
|
Minimum franchise tax / Annual tax
|
US$800.00
|
Exceptions to the first year minimum tax：
1. Corporations and SMLLC - They did not conduct any business in California during the tax year and their tax year was 15 days or fewer.
2. For tax years beginning on or after January 1, 2021, and before January 1, 2024, LLCs that organize, register, or file with the Secretary of State to do business in California.
|
|
Colorado
|
N/A
|
N/A
|
N/A
|
|
Connecticut
|
Corporation Income tax
|
US$250.00
|
Corporation Business Tax Return is used to compute tax both on a net income basis and on a capital stock basis. Tax is paid on the basis that yields the higher tax.
|
|
Delaware
|
Franchise tax / Annual tax
|
Corporate Franchise Tax - $225 using the Authorized Shares Method;
Corporate Franchise Tax - $450 using the Assumed Par Value Capital Method;
LLC/LP/GP Annual tax - $350;
Corporate Franchise Tax - Maximum $200,000.00
LLCs are not required to file annual reports.
|
|
District of Columbia
|
Corporate Franchise tax
|
Gross receipts are $1 million or less - $250
Gross receipts are more than $1 million - $1000
|
|
Florida
|
N/A
|
N/A
|
N/A
|
|
Georgia
|
N/A
|
N/A
|
N/A
|
|
Hawaii
|
N/A
|
N/A
|
N/A
|
|
Idaho
|
Permanent Building Fund (PBF) tax
|
S corporations - minimum income tax - $20
S corporations - minimum franchise tax - $20
S corporations - PBF tax - $10 for each shareholder
|
|
Illinois
|
N/A
|
N/A
|
N/A
|
|
Indiana
|
N/A
|
N/A
|
N/A
|
|
Iowa
|
N/A
|
N/A
|
N/A
|
|
Kansas
|
N/A
|
N/A
|
N/A
|
|
Kentucky
|
Limited Liability Entity Tax (LLET)
|
US$175.00
|
small-business exemption to the LLET
|
|
Louisiana
|
N/A
|
N/A
|
N/A
|
|
Maine
|
N/A
|
N/A
|
N/A
|
|
Maryland
|
N/A
|
N/A
|
N/A
|
|
Massachusetts
|
Corporate Excise tax
|
US$456.00
|
|
Michigan
|
N/A
|
N/A
|
N/A
|
|
Minnesota
|
N/A
|
N/A
|
N/A
|
|
Mississippi
|
Franchise tax
|
US$25.00
|
|
Missouri
|
N/A
|
N/A
|
N/A
|
|
Montana
|
Corporation Income tax
|
US$50.00
|
|
Nebraska
|
N/A
|
N/A
|
N/A
|
|
Nevada
|
N/A
|
N/A
|
N/A
|
|
New Hampshire
|
N/A
|
N/A
|
N/A
|
|
New Jersey
|
Corporation Business tax
|
US$500.00
|
S Corporation- MINIMUM $375
|
|
New Mexico
|
Franchise tax
|
US$50.00
|
|
New York
|
Fixed dollar minimum tax
|
Fixed dollar minimum tax - $25
|
|
North Carolina
|
Franchise tax
|
US$200.00
|
|
North Dakota
|
N/A
|
N/A
|
N/A
|
|
Ohio
|
Commercial Activity Tax (CAT)
|
US$150.00
|
H.B. 33 eliminated the annual minimum tax beginning in 2024.
|
|
Oklahoma
|
Oklahoma Franchise (excise) tax
|
Compute tax at $1.25 per $1,000.00 of capital.
The Maximum annual franchise tax is $20,000.00.
|
|
Oregon
|
Corporation Excise tax
|
US$150.00
|
|
Pennsylvania
|
N/A
|
N/A
|
N/A
|
|
Rhode Island
|
Corporation Income tax
|
US$400.00
|
|
South Carolina
|
Corporate License fee (Franchise tax)
|
US$25.00
|
|
South Dakota
|
N/A
|
N/A
|
N/A
|
|
Tennessee
|
Minimum Business tax & Franchise tax
|
Minimum Business Tax - $22
Franchise Tax - $100
|
|
Texas
|
N/A
|
N/A
|
N/A
|
|
Utah
|
Corporate Income tax & Franchise tax
|
Corporate income tax - $100
Franchise Tax - $100
|
|
Vermont
|
Business Entity Income tax
|
US$250.00
|
|
Virginia
|
N/A
|
N/A
|
N/A
|
|
Washington
|
N/A
|
N/A
|
N/A
|
|
West Virginia
|
N/A
|
N/A
|
N/A
|
|
Wisconsin
|
Economic Development Surcharge
|
US$25.00
|
|
Wyoming
|
State License tax
|
US$60.00
|
