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Franchise Owners - April 15 Makes You Think About Your Taxes
HJ Ventures (http://www.hjventures.com) wanted to remind all Owners that April 15 get them thinking about their taxes -http://www.hjventures.com/franchise/franchise-glossary.htmlIf you own a business, then there are a few taxes that you are need to pay to make sure that your business runs smoothly and you don't have to face any legal / tax complications in the future.All the corporations that are supposed to file the Annual Taxes. The new tax and fee law introduced in the year 2004 requires all the businesses to pay a State Authority tax and another fee to the Secretary of the State every year before April 15.The taxes are of two kinds: the organization taxes and the doing business taxes. The organization taxes are the taxes that have to be paid by franchises to exist as a corporation. On the other hand, the doing business taxes are ones that have to be paid by the corporations for having the privilege of doing business within the limits of the taxing authorities.The taxes and the fees were paid to the Secretary of States, in the past, at the time of filing the annual report. With the new tax law, the taxes are to be filed with the Department of Revenue after filling up the tax form K-150, and the fee is to be paid to the Secretary of States along with the annual report.There are a few things that you are supposed to keep in mind, even if your corporation is not a franchise, you are still supposed to follow the tax. In this case, the tax will be considered a business tax based upon the corporation's assets. All corporations are supposed to file the tax. In case no tax is due, the corporation has to give its information to the respective department.The taxes
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