franchise tax

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Definitions from WordNet

Noun franchise tax has 1 sense

franchise tax - a tax that is imposed by states on corporations; it depends both on the net worth of the corporation and on its net income attributable to activities within the state
--₁ is a kind of tax, taxation, revenue enhancement

Definitions from the Web

Franchise Tax

Definition: Franchise tax is a type of tax levied by some states on businesses that have been granted a franchise within a particular jurisdiction. It is imposed in addition to other taxes such as income tax and is generally based on a company's net worth or capital stock.

Part of Speech: Noun

Sense 1:

Definition: The tax imposed on businesses operating within a specific jurisdiction that have obtained a franchise.

Example Sentence: The company had to pay a hefty franchise tax to the state for operating its business under a franchise agreement.

Sense 2:

Definition: A tax levied on corporations that are incorporated or doing business within a particular jurisdiction.

Example Sentence: The state's franchise tax on corporations is calculated based on their total assets or net worth.

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