The Full Retirement Age Is Increasing Full retirement age (also called normal retirement age) had been 65 for many years. However, beginning with people born in 1938 or later, that age gradually increases until it reaches 67 for people born after 1959.
Franchise Tax. Franchise taxes are fees that companies must pay for the privilege of doing business in a particular state or city. (Despite the name, they don't apply just to franchises.) Franchise taxes are not based on profit, meaning that even companies that lose money or only break even must pay them.
Texas corporations are subject to the franchise tax. Example: Your Texas corporation had annualized total revenue of $500,000. Because this amount is less than the no-tax-due threshold ($1,080,000 in 2013), your corporation will owe no franchise tax. S Corporations.