taxes

Franchise Tax Frequently Asked Questions

Extensions

Can a combined group use the 100 percent tax due option in requesting an extension?

Yes, if the combined group was subject to the franchise tax in the previous year, even if members of the combined group have changed.

If a taxable entity was a member of a combined group for the previous franchise tax report, can the entity use the 100 percent tax due option in requesting an extension?

No.

What are the extension requirements for the first annual report?

Annual extension requirements will apply for all annual reports, including the first annual report. On the first annual report, the option to pay 100 percent of the prior year's tax is not available.