Illinois charges a 6.25% sales tax for sales within the state. There are many exceptions to sales tax in Illinois, some of the most common exceptions are movie tickets, food purchased at grocery stores, food sold in a student cafeteria, newspapers, some Internet sales, and sales by nonprofit organizations.
The Ohio General Assembly established the CAT in 2005 as part of a series of tax reforms in the FY 06-07 budget (Am. Sub. HB 66). HB 66 phased-in the CAT and simultaneously phased-out the state corporate franchise tax and local tangible personal property tax for most businesses.
Every year your California Corporation must file an Annual Franchise Tax Return with the Franchise Tax Board. Tax: Both C and S Corporations are subject to franchise taxes. The franchise tax is actually a tax of net income and the rate is 8.84% of net income for corporations. S corporations must pay the franchise tax at a rate of 1.5% of net income. California imposes a minimum franchise tax of $800. NOTE: New corporations are subject to the above tax rate with no minimum tax the first year.