There also exists a minimum tax (Mindestkörperschaftssteuer) for both limited liability companies (LLC) and joint-stock companies that is equal to 5% of their registered capital. i.e. €1,750 and €3,500 annually. Banks and insurance companies are subject to a different amount - €5,452. For new firms, there is a decreased tax of €1,092 in the first year of their existence.