Replies to post #271583 on Spongetech Delivery Systems Inc (fka SPNGQ)

[ttattletell]

Yep hash, they only paid $2267.50 of the $180,000.00 Franchise tax owed...

HOW TO CALCULATE FRANCHISE TAXES

A domestic stock for profit corporation incorporated in the State of Delaware is required to pay annual franchise tax. The minimum tax is $75.00 with a maximum tax of $180,000.00. Corporations owing $5,000.00 or more make estimated payments with 40% due June 1st, 20% due by September 1st, 20% due by December 1st, and the remainder due March 1st.

The Annual Franchise Tax assesment is based on the authorized shares. Use the method that results in the lesser tax. The total tax will never be less than $75.00 or more than $180,000.00.

http://corp.delaware.gov/frtaxcalc.shtml