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A municipally owned corporation is a corporation owned by a municipality.They are typically "organisations with independent corporate status, managed by an executive board appointed primarily by local government officials, and with majority public ownership."
A franchise fee is a fee or charge that one party, the franchisee, pays another party, the franchisor, for the right to enter in a franchise agreement. Generally by paying the franchise fee a franchisee receives the rights to sell goods or services, under the franchisor's trademarks, as well as access to the franchisor's business processes.
Employment tax: Tax-exempt businesses with employees must withhold Federal Income Tax Withholding (FITW) from employee wages and contribute to Social Security and Medicare taxes (FICA). Non-501(c ...
This fee can be renegotiated when the franchise agreement comes up for renewal, usually at intervals of 10 to 12 years. Although it is paid to a government, it is not a tax. Franchise fees are governed under Section 622 of the Cable Communications Act of 1984. [2]
Effective January 1, 2012, the net federal corporate income tax rate in Canada was 15%, or 11% for corporations able to claim the small business deduction; in addition, corporations are subject to provincial income tax that may range from zero to 16%, depending on the province and the size of the business.
A franchise tax is a government levy (tax) charged by some US states to certain business organizations such as corporations and partnerships with a nexus in the state. A franchise tax is not based on income. Rather, the typical franchise tax calculation is based on the net worth of capital held by the entity. The franchise tax effectively ...
Exemption of Public Lands, etc. 125. No Lands or Property belonging to Canada or any Province shall be liable to Taxation. Section 125 is found in Part VIII of the Constitution Act, 1867, dealing with revenues, debts, assets, and raxation. It has not been amended since the Act was enacted in 1867.
However, Statistics Canada embeds Alberta's eight Metis settlements, a separate type of municipality, into the census subdivisions for six municipal districts. [33] Combined, Alberta has 73 rural municipalities comprising 63 municipal districts, 7 improvement districts and 3 special areas. [2]