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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: laura_bush who wrote (282732)4/2/2004 11:30:06 PM
From: SI Dave  Read Replies (2) of 436258
 
>>I'm wondering if the "big guys" such as MOT, CPQ/HWP (what's that ticker now?), HAL, for example, in your city of Houston are also able to legally avoid THOSE taxes as well?

Probably not, at least not in Texas. The corporate franchise tax here has two separate computations; one on capital, the other on surplus (a fancy name for income that isn't called income). Corporations pay the higher of the two results.

Multi-state corps have a difficult time with states because each wants to maximize its apportionment of the corporation's income (or capital) that it gets to tax. There are many cases where the taxed basis paid to all states combined is over 100% of the actual basis.

For the most part, states are a lot tougher and have far fewer loopholes than the federal government.
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