Under a change that senators approved during a lengthy debate Tuesday, companies will have two options. The first option will be to pay a franchise tax of 2.5 percent on net taxable income plus either half their payroll or all of their payroll, with the first $30,000 in salary for each employee exempt from the tax. The second option would be to pay a 1.75 percent payroll tax capped at $1,500 per employee.
Huh? Could someone run that by me again?
7 posted on 05/11/2005 9:17:16 AM PDT by kennedy
("Why would I listen to losers?")