The Franchise Tax Exception to the Federal Exemption Statute
Banking Law Journal, Vol. 102, p. 462, No. 5, 1985
22 Pages Posted: 13 Oct 2009
Date Written: 1985
This article examines the origin and history of franchise taxes, the authority of state and local governments to impose such taxes, and the legislative and judicial responses to the problem. It concludes that the franchise tax exception to the exemption statute has created a problem of substance as well as draftsmanship. This article calls for an elimination of the franchise tax exception in order to promote clarity and administrative efficiency.
Keywords: tax, franchise tax, franchise tax exception
JEL Classification: K22, K34
Suggested Citation: Suggested Citation