The state charges a $15 tax, which is part of the $89 total filing fee. This $15 tax is based on an assessed “capital” valuation of $75,000 or less. Again, this is determined by the par value of each share of stock and the total authorized shares of stock.
If stock has a par value
The state has set up a handy spread sheet to help you calculate the “Capital” Value of the shares: Use Calculator
For the purpose of computing the tax on par value stock each $100 unit of the authorized capital stock shall be counted as 1 taxable share.
If stock has no par value
If your stock has no par value, use the following method to come up with the tax:
If less than 20,000 shares (at no par value) = $0.01 per share
The next 20,001 to 2,000,000 shares = $0.005 per share (+$200)
Additional shares over 2,000,000 = $0.004 per share (+$10,100)
In no case shall the amount paid be less than $15.
1,500 shares at no par value = $15 (the minimum)
The state also provides a calculator for no par: Use Calculator
Annual Franchise Taxes
These are the taxes assessed each year (on March 1st) based upon the corporation's stock structure. See Annual Franchise Taxes for more information.