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hi this is John with PDF tax this here is our first look at form 1040 for 2018 it's a new form a new tax law it is the draft copy that was released on June 29th so it still has the watermark on it as you can see you might recall that President Trump had promised to reduce the form 1040 to the size of a postcard and so this is it a lot different than what has been in prior years but it does have a second page to it which is right here still though a lot smaller than 1040 was in prior years so what the IRS has done is they have created six new schedules to capture the information that used to be on the 1040 Schedule one as additional income and adjustments schedule two is tax Schedule three is non refundable credits schedule four is other taxes schedule five other payments and refundable credits and schedule six foreign address and third party designee now if you take a closer look at the form 1040 here one of the first things you're probably going to notice that right here is that there
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How is franchise tax calculated?
With this method your Delaware Franchise Tax bill is calculated based on issued shares, authorized shares and total gross assets. Divide total gross assets by total issued shares. This will give you your assumed par value. ... Your annual DE franchise tax will be $350 for each $1,000,000 of your assumed par value capitol.
What is franchise tax in Louisiana?
Louisiana's corporation franchise tax is a net worth tax essentially imposed for the privilege of doing business in Louisiana. The basic breakdown is as follows: $1.50 for each $1,000 or major fraction thereof up to $300,000 of capital used in Louisiana; and.
How is Louisiana state income tax calculated?
2% on the first $12,500 of net income over the amount of any applicable tax credits.
4% on the next $37,500 of net income.
6% on any net income over $50,000 of net income.
Do I have to file state taxes?
Filing state income taxes requires a separate return If your state requires that you file state income taxes, you'll have to do it separately from your federal income tax return. ... Also, because the IRS doesn't process your state tax return, it can't help you if you have any questions.
Is there a minimum franchise tax in Louisiana?
LINE 9 \u2013 LOuIsIANA FRANCHIsE TAX The amount of Louisiana franchise tax is computed on Form CIFT-620, Schedule F. The minimum tax is $10.00.