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.
Normally, corporate income tax is only owed by companies that have property or employees in a state. KFC's franchisees do, and pay taxes, but KFC Corp. in distant Louisville (or rather Delaware, where royalty payments from franchisees are not taxed) do not.Nevertheless, they've been ordered to pay $250,000 in corporate income taxes on the profits they've earned:'ve heard it claimed that because this out-of-state company is benefitting from its franchisees' market in Iowa, it should pay a share of its profits to the state to pay for essential services like roads and courts and such.