AB 2131: Minimum franchise tax.

Existing law, generally, imposes a minimum franchise tax of $800, except as provided, on every corporation incorporated in this state, qualified to transact intrastate business in this state, or doing business in this state.

This bill would reduce the minimum franchise tax to $400 for taxable years beginning on or after January 1, 2019. 2019, and before January 1, 2024.

This bill would take effect immediately as a tax levy.