What is the difference between a corporate franchise tax return and a corporate income tax return?
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From a functional view, there is no difference. The rate for both is 5% of taxable income or $100, whichever is greater, and they use the same form. Any corporation, whether incorporated (domestic) or qualified (foreign or doing business in Utah), is required to file a franchise tax return. Foreign corporations must file franchise tax returns if they have a regular and established place of business or inventory, or own, rent, or lease property. Corporations subject to the income tax are corporations that derive income from Utah sources, but are not qualified or have a place of business in Utah. An example would be a trucking company that runs through Utah but has no fixed place of business in Utah. I have received a notice requesting the filing of a corporate franchise tax return. My company went out of business years ago. How can I get the state to stop sending me notices. The fact that a corporation ceases to do business, sells or distributes its assets, does not relieve it of the li
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