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.
Franchise royalty is a sum paid to the franchisor. It typically is the percentage of sales (usually the gross) that the franchisees pay to the franchisor company on a regular basis. It pays for the ongoing rights to participate in the franchise and may cover specified advertising and other support activity by the franchisor.