This section is from the book "Real Estate Principles And Practices", by Philip A. Benson, Nelson L. North. Also available from Amazon: Real Estate Principles and Practices.
In most States corporations are taxed annually on their franchise, or right to do business in the State. There are various methods of computing the amount of the tax. It is usually based on the amount of either capital or capital stock or net income of the corporation. The tax is a general lien on the property of the corporation and can be enforced against it.
 
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