Franchise Tax
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The 2008-2009 New York State Budget Act has drastically altered the way that franchise taxes will be determined for businesses. Last night CBS 6 News reported that the Tax Changes Anger Small Businesses . A Mr. Subb franchise owner in the Capital Region had his franchise tax jump from $425 last year to $3,000 this year. The franchise tax used to be based on payroll and is now based on receipts. A more in depth article was published on January 1st, 2009 in the CPA Journal . Written by Mark H. Levin, a copy of the article can be found here . The below tables were found in the original article.