Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 01-26-2009, 11:16 AM
Junior Member
 
Join Date: Jan 2009
Posts: 1
When is the California Franchise Tax administered on Income Statement?

Hello, I'm currently doing a research paper on Taxes and am having some trouble that I hope you can help me with.

I understand that California, and other states, administer a 1.5% franchise tax on S-Corporations for their net income. Is this 1.5% tax administered before or after they pay their employees and FICA taxes?

Also, once the income is distributed to the shareholders, is that income taxed the same as a Federal and State income tax?

Thank you very much for your help.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Are Subchapter S Corporation subject to the California minimum franchise tax? TaxGuru California 0 12-05-2008 09:50 AM
California State Tax Update on Withholding on Sale of California Real Estate! TaxGuru California 0 09-24-2008 10:11 AM
What is the Minimum Franchise Tax for C Corporation in the State of California? Andreas C-Corporation 1 03-01-2008 05:20 PM
What is the minimum California Franchise Tax for S Corporations in 2007? andri C-Corporation 1 02-29-2008 10:12 AM
What items are tax deductible on my Escrow Statement? Edmund Itemized Deductions 1 03-14-2007 09:00 AM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning