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.