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34
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Franchise Tax
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Domestic
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Foreign
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$151,000
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to
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199,000................
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130
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75.00
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On
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200,000 ................
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130
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100.00
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201,000
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to
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249,000................
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155
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100.00
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Oa
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250,000................
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155
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125.00
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251,000
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to
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299,000................
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180
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125.00
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On
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300,000................
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180
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150.00
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301,000
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to
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349,000................
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205
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150.00
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On
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350,000................
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205
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175.00
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351,000
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to
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399,000................
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230
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175.00
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On
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400,000................
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230
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200.00
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401,000
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to
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449,000................
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255
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200.00
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On
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450,000................
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255
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225.00
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451,000
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to
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499,000................
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280
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225.00
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On
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500,000................
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280
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250.00
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Over 500,000
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to
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5,000,000................
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In addition f 250
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In addition 1-40
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for each mil-
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of 1% on es-
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lion or frac-
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cess.
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tion.
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E. g.?
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On
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1510,000................
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$530
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?252.50
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"
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600,000................
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530
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275.00
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"
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700,000................
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530
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300.00
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"
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800,000................
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530
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325.00
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"
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900,000................
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530
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350.00
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"
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1,000,000................
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530
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375.00
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"
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1,500,000.................
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530
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500.00
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"
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2,000,000................
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780
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625.00
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"
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2,500,000................
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780
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750.00
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"
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3,000,000................
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1,030
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875.00
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"
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3,500,000................
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1,030
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1,000.00
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"
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4,000,000................
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1,280
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1,125.00
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"
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5,000,000................
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1,280
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1,250.00
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* * *
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Over
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$5,000,000................
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In addition f 100
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In addition $30
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for each mil-
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for each, mil-
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lion or frac-
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lion.
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tion.
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Every foreign corporation should be required to pay an annual
franchise tax equal to the amount of the annual tax payable by a
similar domestic corporation. The amount of the annual franchise
tax against domestic corporations is based on the amount of paid-in
capital. Should all of the capital stock not be issued, the company
may become liable for a tax on its authorized capital, unless it files
an affidavit with the State Tax Commission before the first of March
setting forth what amount was actually issued and outstanding on
the first of the preceding January.
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