The franchise tax is different for each state. You will need to refer to the IRS or local state library to get an idea of what it means for you and your small business.
A franchise tax is the tax that is imposed on people who own a franchise like McDonalds. Further information can be found at www.irs.gov/businesses/.
Tax preparation information for small businesses can be found at Turbo Tax. Turbo Tax has a website that provides such information. The site is turbotax.intuit.com/small-business-taxes/.
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There are several tax software options for small business owners. TurboTax software made for small businesses is a reputable software brand that is used by many people.
Tax software will probably work for small businesses in most situations. TurboTax is one software company that provides this type of software for small businesses. Larger businesses may want to hire a professional service.
Prices vary by store and franchise. At my store they range from $2.49 + tax (small) to $3.79 + tax (large).
What this means, is that each time you're paid by your employer, he will have to file a 1099 tax form. These forms are used mostly for contract work for small businesses, and will have no effect on how you file your taxes.
TurboTax Small Business tax software is a reliable best seller in its class. This version of TurboTax is specifically designed for small businesses rather than the home version, which is designed for personal use.
During tax season, small businesses are not exempt from filing taxes. However, with many tax credits and rebates created recently to help small businesses propel in this economy, filing taxes may actually be something to look forward about. With professional tax software, your small business can maximize tax credits and rebates that your business qualifies for, helping your net revenue and making the process much easier than doing by hand or alone.
Depends on how large or small the business is...
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California Franchise Tax Board was created in 1950.