State

State Minimum Tax

 Amount

Memo

California

Minimum franchise tax / Annual tax

US$800.00

Exceptions to the first year minimum tax：
1. Corporations and SMLLC - They did not conduct any business in California during the tax year and their tax year was 15 days or fewer.
2.  For tax years beginning on or after January 1, 2021, and before January 1, 2024, LLCs  that organize, register, or file with the Secretary of State to do business in California.

Colorado

N/A

N/A

N/A

Connecticut

Corporation Income tax

US$250.00

 Corporation Business Tax Return is used to compute tax both on a net income basis and on a capital stock basis. Tax is paid on the basis that yields the higher tax.

Delaware

Franchise tax / Annual tax

Corporate Franchise Tax - $225 using the Authorized Shares Method;

Corporate Franchise Tax - $450 using the Assumed Par Value Capital Method;

LLC/LP/GP Annual tax - $350;

Corporate Franchise Tax - Maximum $200,000.00

LLCs are not required to file annual reports.

District of Columbia

Corporate Franchise tax

Gross receipts are $1 million or less - $250
Gross receipts are more than $1 million - $1000

Florida

N/A

N/A

N/A

Georgia

N/A

N/A

N/A

Hawaii

N/A

N/A

N/A

Idaho

Permanent Building Fund (PBF) tax

S corporations - minimum income tax - $20
S corporations - minimum franchise tax - $20
S corporations - PBF tax - $10 for each shareholder

Illinois

N/A

N/A

N/A

Indiana

N/A

N/A

N/A

Iowa

N/A

N/A

N/A

Kansas

N/A

N/A

N/A

Kentucky

Limited Liability Entity Tax (LLET)

US$175.00

small-business exemption to the LLET

Louisiana

N/A

N/A

N/A

Maine

N/A

N/A

N/A

Maryland

N/A

N/A

N/A

Massachusetts

Corporate Excise tax

US$456.00

Michigan

N/A

N/A

N/A

Minnesota

N/A

N/A

N/A

Mississippi

Franchise tax

US$25.00

Missouri

N/A

N/A

N/A

Montana

Corporation Income tax

US$50.00

Nebraska

N/A

N/A

N/A

Nevada

N/A

N/A

N/A

New Hampshire

N/A

N/A

N/A

New Jersey

Corporation Business tax

US$500.00

S Corporation- MINIMUM $375

New Mexico

Franchise tax

US$50.00

New York

Fixed dollar minimum tax

Fixed dollar minimum tax - $25

North Carolina

Franchise tax

US$200.00

North Dakota

N/A

N/A

N/A

Ohio

Commercial Activity Tax (CAT)

US$150.00

H.B. 33 eliminated the annual minimum tax beginning in 2024. 

Oklahoma

Oklahoma Franchise (excise) tax

Compute tax at $1.25 per $1,000.00 of capital.
The Maximum annual franchise tax is $20,000.00.

Oregon

Corporation Excise tax

US$150.00

Pennsylvania

N/A

N/A

N/A

Rhode Island

Corporation Income tax

US$400.00

South Carolina

Corporate License fee (Franchise tax)

US$25.00

South Dakota

N/A

N/A

N/A

Tennessee

Minimum Business tax & Franchise tax

Minimum Business Tax - $22
Franchise Tax - $100

Texas

N/A

N/A

N/A

Utah

Corporate Income tax & Franchise tax

Corporate income tax - $100
Franchise Tax - $100

Vermont

Business Entity Income tax

US$250.00

Virginia

N/A

N/A

N/A

Washington

N/A

N/A

N/A

West Virginia

N/A

N/A

N/A

Wisconsin

Economic Development Surcharge

US$25.00

Wyoming

State License tax

US$60.00