Author Question: In Texas, which is true of the 1991 franchise tax? a. It is levied only on a business's ... (Read 92 times)

gbarreiro · **on:** Jul 8, 2018

In Texas, which is true of the 1991 franchise tax?

a. It is levied only on a business's inventory.
b. It applies only to sole proprietorships.
c. It is typically assessed on a business's revenue plus employee compensation.
d. It must be paid even if a business fails to make money.

Question 2

Teal Motor Corporation manufactures automobile parts. It currently has stock worth 120,000. It has not made any significant profit this year but has to pay taxes based on its earned surplus. Which of the following taxes is best described in this example?

a. the poll tax
b. the amusement tax
c. the insurance tax
d. the franchise tax