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Information on Entities Exempt From the Capital Stock/Foreign Franchise Tax

Entities exempt from the Capital Stock/Foreign Franchise tax include certain qualifying:

  • not-for-profit organizations
  • homeowners’ associations
  • membership organizations
  • family farm corporations
  • agricultural cooperatives
  • restricted professional companies
  • business trusts

Further, corporations subject to bank and trust companies shares tax, gross premiums tax, mutual thrift tax and title insurance company shares tax are exempt from capital stock/foreign franchise tax.