Discussion:Franchise fee on 1120s
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Discussion Forum Index --> Tax Questions --> Franchise fee on 1120s
| 27 January 2007 | |
| I started a new corp. in 2006 and am filing a 1020s for the year. I also paid a $25K franchise fee and am not sure where or how to report it. Would it be considered an asset or a startup fee, or???? Thanks in advance. | |
| 27 January 2007 | |
| Discussion:Franchise fee | |
Poorhouse Road (talk|edits) said: | 27 January 2007 |
| It is an asset that you amortize over a 15 year period (Code Sec 197). | |
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