OlgaH on FirstDream's Franchise Tax

[OlgaH]

  Is this about the franchise fee tax...

In my opinion it is more about a corporation that cares about its reputation and what is written in its account of status complying with the law.

Olgah, we do not pay all our taxes and wait for them to collect. 

Actually the State of Taxes has also its Tax Code :
TAX CODE
TITLE 2. STATE TAXATION
SUBTITLE F. FRANCHISE TAX
CHAPTER 171. FRANCHISE TAX

Sec. 171.363.  WILFUL AND FRAUDULENT ACTS.  (a)  A taxable entity commits an offense if the taxable entity is subject to the provisions of this chapter and the taxable entity wilfully:

(1)  fails to file a report;

They also have rules when the reports must be submitted, consequences for late submission,  and also franchise rates. http://www.window.state.tx.us/taxinfo/franchise/

kievstar,

your post sounds as Texas would be a good shelter for cheaters and violators of Tax Law where the comptroller officers simply do their job carelessly and turning a blind eye to the law. But I think they would disagree with you  otherwise there would not be corporations in not in good standing.

[kievstar]

OlgaH, do you pay sales tax on everything you buy on the internet.  95% of Americans have violated this tax law.

We have 30 million people who did not even file tax returns who should plus all the illegals.

Even Obama did his taxes wrong.

Post your tax return here or get off your high horse. 

[tim 360]

OlgaH, do you pay sales tax on everything you buy on the internet.  95% of Americans have violated this tax law.

We have 30 million people who did not even file tax returns who should plus all the illegals.

Even Obama did his taxes wrong.

Post your tax return here or get off your high horse. 

Not only if you didn't pay state taxes on Internet purchases but anything you bought in another state and brought home.  Usually states want you to pony up any taxes which would be due. 

[OlgaH]

OlgaH, do you pay sales tax on everything you buy on the internet.  95% of Americans have violated this tax law.

To pay franchise tax buying something on the internet? Never heard about it

I don't know about 95% of Americans...     For example some Texas entities don't have problems with their franchise tax:

BAKER HUGHES FOUNDATION is in good standing
http://ourcpa.cpa.state.tx.us/coa/servlet/cpa.app.coa.CoaGetTp?Pg=tpid&Search_Nm=Baker%20Hughes%20&Button=search&Search_ID=17604412928

CAMERON INTERNATIONAL CORPORATION DBA CAMERON SYSTEMS CORPORATION in good standing
http://ourcpa.cpa.state.tx.us/coa/servlet/cpa.app.coa.CoaGetTp?Pg=tpid&Search_Nm=Cameron%20International%20&Button=search&Search_ID=17604518435

DEAN FOODS COMPANY is in good standing
http://ourcpa.cpa.state.tx.us/coa/servlet/cpa.app.coa.CoaGetTp?Pg=tpid&Search_Nm=Dean%20Foods%20&Button=search&Search_ID=17525596817

FOSSIL, INC is in good standing
http://ourcpa.cpa.state.tx.us/coa/servlet/cpa.app.coa.CoaGetTp?Pg=tpid&Search_Nm=Fossil%2C%20Inc.%20&Button=search&Search_ID=17520185053

LANDRY'S RESTAURANTS, INC. is  in good standing
http://ourcpa.cpa.state.tx.us/coa/servlet/cpa.app.coa.CoaGetTp?Pg=tpid&Search_Nm=Landry%27%27s%20Restaurants%2C%20Inc.%20&Button=search&Search_ID=17604053862

MAXXAM INC is in good standing
http://ourcpa.cpa.state.tx.us/coa/servlet/cpa.app.coa.CoaGetTp?Pg=tpid&Search_Nm=MAXXAM%20INC.%20&Button=search&Search_ID=19520787524

Post your tax return here or get off your high horse.

I never asked to post a tax return,    More over public profiles on corporations are available at any time. Do you think that the corporations  are "riding high horse" if they are in good standing 

[Admin]

To pay franchise tax buying something on the internet? Never heard about it

I don't know about 95% of Americans...     For example some Texas entities don't have problems with their franchise tax:

BAKER HUGHES FOUNDATION is in good standing
http://ourcpa.cpa.state.tx.us/coa/servlet/cpa.app.coa.CoaGetTp?Pg=tpid&Search_Nm=Baker%20Hughes%20&Button=search&Search_ID=17604412928

CAMERON INTERNATIONAL CORPORATION DBA CAMERON SYSTEMS CORPORATION in good standing
http://ourcpa.cpa.state.tx.us/coa/servlet/cpa.app.coa.CoaGetTp?Pg=tpid&Search_Nm=Cameron%20International%20&Button=search&Search_ID=17604518435

DEAN FOODS COMPANY is in good standing
http://ourcpa.cpa.state.tx.us/coa/servlet/cpa.app.coa.CoaGetTp?Pg=tpid&Search_Nm=Dean%20Foods%20&Button=search&Search_ID=17525596817

FOSSIL, INC is in good standing
http://ourcpa.cpa.state.tx.us/coa/servlet/cpa.app.coa.CoaGetTp?Pg=tpid&Search_Nm=Fossil%2C%20Inc.%20&Button=search&Search_ID=17520185053

LANDRY'S RESTAURANTS, INC. is  in good standing
http://ourcpa.cpa.state.tx.us/coa/servlet/cpa.app.coa.CoaGetTp?Pg=tpid&Search_Nm=Landry%27%27s%20Restaurants%2C%20Inc.%20&Button=search&Search_ID=17604053862

MAXXAM INC is in good standing
http://ourcpa.cpa.state.tx.us/coa/servlet/cpa.app.coa.CoaGetTp?Pg=tpid&Search_Nm=MAXXAM%20INC.%20&Button=search&Search_ID=19520787524

I never asked to post a tax return,    More over public profiles on corporations are available at any time. Do you think that the corporations  are "riding high horse" if they are in good standing 

Olga,

You are missing the point.

Did you or LEGAL make ANY purchases on the internet in 2010?

Did you pay FL state tax on that purchase?

If not, you are likely to be afoul of the law.

There are LOTS of laws in the US and our various States - especially around taxation. For you to be so obsessed about someone else's tax liability is .. well, a little strange.

- Dan

[OlgaH]

Olga,

You are missing the point.

Did you or LEGAL make ANY purchases on the internet in 2010?

Did you pay FL state tax on that purchase?

If not, you are likely to be afoul of the law.

We pay all our taxes that we must pay according to the Federal and Florida Law, and our accountant company who prepares our tax return takes care of it.

There are LOTS of laws in the US and our various States - especially around taxation. For you to be so obsessed about someone else's tax liability is .. well, a little strange.

- Dan

Sorry Dan, but "obsessed" is not correct word, but... whatever. It is more a question "is it OK for dating and  marriage agencies that offer their services to be afoul of the law" ?    

For example  LOVERSPLANET.COM
Status:  Admin Dissolved  
Entity Inactive Date:  5/21/2009  
(Entity inactive date is the date on which the Entity ceased to be active under Indiana law. Examples include the following: the date the Entity merged out of existence, withdrew or became administratively dissolved)
http://secure.in.gov/sos/online_corps/name_search_results.aspx?search_name=Loversplanet.com+LLC&search_type=exact&client_id=&submit.x=36&submit.y=5&submit=submit&search_mode=search  

[Admin]

We pay all our taxes that we must pay according to the Federal and Florida Law, and our accountant company who prepares our tax return takes care of it.


Sorry Dan, but "obsessed" is not correct word, but... whatever. It is more a question "is it OK for dating and  marriage agencies that offer their services to be afoul of the law" ?    

For example  LOVERSPLANET.COM
Status:  Admin Dissolved  
Entity Inactive Date:  5/21/2009  
(Entity inactive date is the date on which the Entity ceased to be active under Indiana law. Examples include the following: the date the Entity merged out of existence, withdrew or became administratively dissolved)
http://secure.in.gov/sos/online_corps/name_search_results.aspx?search_name=Loversplanet.com+LLC&search_type=exact&client_id=&submit.x=36&submit.y=5&submit=submit&search_mode=search  

So did you or LEGAL make ANY internet purchases in 2010?

- Dan

[OlgaH]

So did you or LEGAL make ANY internet purchases in 2010?

- Dan

Yes, we made some internet purchases in 2010 from our state sellers and they collected sales tax.

[Admin]

Yes, we made some internet purchases in 2010 from our state sellers and they collected sales tax.

Did you make any internet purchases from an out-of-state seller?

- Dan

[OlgaH]

Did you make any internet purchases from an out-of-state seller?

- Dan

Not yet, as I remember.

[Ravens9273]

have not been here in a while but this thread is pretty comical with tons of false information.

[camachinist]

Olga, what Dan's getting at is, in most states, if you purchase tangible goods across state lines and no sales tax is collected, you're liable for 'use tax'. I'm a state-licensed reseller of goods in California and such 'use tax' is part of my sales tax return each period to the Board of Equalization. It's also a legal requirement for regular citizens who buy goods across state line where the seller does not collect and remit sales tax for the purchase.

A great example from my experience is Amazon.com. They don't have a presence in California so don't collect sales tax. If I buy ten grand worth of goods from them, I'm liable for about 900.00 in use tax on those goods in my particular tax zone.

Enforcement of this tax statute is pretty lax, which I think is the point others are making regarding the franchise tax. If the tax authority in Texas comes knocking on their door for the franchise tax, they'll pay it, along with any penalties. Otherwise, whatever. It's kinda like when I was in Odessa. I only paid the bribes I had to pay. If I could get out of them, I did. Simple economics.

[Boethius]

But an end user only pays a use tax in most states equal to the difference between sales tax paid and sales tax in their particular jurisdiction.

I don't know Jack's business model, and am not commenting on his particular situation.  

Were I booking a trip with anyone, a failure to file and pay income tax (which includes the  franchise tax, which is a tax based on income) would be a concern to me.  Failure to pay taxes is often - not always, but often - an indication of a business with liquidity problems.  I'd be concerned about shelling out money for a trip that may not materialize.

[OlgaH]

Olga, what Dan's getting at is, in most states, if you purchase tangible goods across state lines and no sales tax is collected, you're liable for 'use tax'.

camachinist, I know about our Florida "use tax", use tax rate that is the same as the sales tax rate, 6%, a form that we file with the Department, and the schedule