States levy a variety of taxes besides income taxes that are often grouped under the term "franchise tax," although naming conventions vary widely by state. Franchise taxes hit you for the privilege of doing business in a state, regardless of whether you turn a profit.

Unlike corporate income tax, which looks at your actual earnings, franchise tax gets calculated using net worth, capital stock, or flat fees, and the rules change completely once you cross state lines. Texas imposes a franchise tax calculated on a margin base, and Alabama brands the same concept as a "business privilege" tax. Tennessee computes its version on net worth alone. Several states have enacted significant legislative changes since 2024, including full repeals, rate reductions, and fee increases. Louisiana's franchise tax is gone for periods beginning on or after January 1, 2026. Delaware's annual LLC tax rose to $400 for the 2026 tax year, and Mississippi's rate stepped down again.

Franchise tax by state at a glance

This table gives you the essential franchise tax details for the eighteen states covered in this guide, sized for 2026 compliance planning. The information comes from the latest publicly available sources; rules change rapidly, so verify numbers, forms, and deadlines on the official state website before filing.

Note the following:

• The table covers the states in this guide that levy, or until recently levied, a franchise tax or franchise-style entity tax on general business entities. Nebraska has a section below but no row here, because its franchise tax reaches financial institutions only. Most states impose no such tax at all, Alaska among them, though other business taxes and fees may still apply. Confirm the current position with that state's revenue department or Secretary of State before filing.

• Due dates shown are the standard calendar-year deadlines; fiscal-year filers and different entity types often have different dates. These dates track federal schedules or state fiscal calendars and are subject to annual change, so confirm against current state instructions each year.

• "Filed with the corporate return" means the franchise tax is reported on the state corporate return rather than on a standalone filing, so it inherits that return's deadline.

• Complexity ratings range from simple flat fees to multi-factor calculations, such as Delaware's two-method system.

• Arizona does not impose a franchise tax. Corporations pay a corporate income tax carrying a $50 statutory minimum under A.R.S. §43-1111 unless exempt, and businesses with taxable gross proceeds pay transaction privilege tax.

• District of Columbia maintains an active Corporation Franchise Tax (Form D-20) and Unincorporated Business Franchise Tax (Form D-30), per the DC OTR. The corporate rate remains 8.25% and the minimum tax tiers of $250 and $1,000 are unchanged, per the DC franchise tax rates page.

• Pennsylvania does not impose a capital stock or franchise tax on corporations, per the Pennsylvania DOR. The state fully phased the tax out in 2016 and has not reinstated it.

• Nebraska does not impose a general-business franchise tax separate from its corporate income tax. The franchise tax in the table above applies to financial institutions only. The "occupation taxes" referenced in some guides are locally imposed municipal taxes under Nebraska statutes.

• Kentucky: Above $6 million in Kentucky gross receipts, the Kentucky Limited Liability Entity Tax is the lesser of 0.095% of Kentucky gross receipts or 0.75% of Kentucky gross profits. A sliding-scale calculation applies between $3 million and $6 million, only the $175 minimum applies below $3 million, and for tax years beginning on or after January 1, 2026 entities with Kentucky gross receipts under $100,000 are fully exempt, per Kentucky DOR guidance.

In most states, accountants handle franchise taxes, as they usually require extensive accounting data and are typically filed in conjunction with your other business state tax returns. Franchise taxes most often function as a sort of minimum tax to do business in the state, regardless of profitability.

Key 2025 to 2026 legislative changes

Franchise tax changes enacted in the last two sessions directly affect 2025 and 2026 compliance. According to the Tax Foundation, states are continuing to repeal or phase out capital stock-style taxes. Here are the most notable changes:

• Oklahoma: Full repeal complete. No franchise tax filing is required for TY 2024 forward. Unpaid franchise tax from TY 2023 and earlier was not erased and remains collectible.

• Louisiana: The corporation franchise tax is repealed for franchise tax periods beginning on or after January 1, 2026, per the Louisiana DOR. It applied to tax years beginning in 2025 and earlier.

• Delaware: House Bill 400, signed May 21, 2026, raised the annual tax for LLCs, LPs, and general partnerships from $300 to $400, effective January 1, 2026, which applies the higher amount to the 2026 tax year, per the Delaware Business Times. The bill left the corporate franchise tax minimums and the $200,000 and $250,000 caps untouched.

• Tennessee: The property measure (Schedule G) was repealed as the default base under Public Chapter 950, per the FT-13 notice. The franchise tax is now calculated solely on net worth at 0.25%, with a $100 minimum.

• Mississippi: The franchise tax rate drops to $0.50 per $1,000 of capital in excess of $100,000 for TY 2026 (down from $0.75 in TY 2025), per the Mississippi DOR, with a further step down to $0.25 in 2027 and full repeal scheduled for January 1, 2028.

• North Carolina: For tax years beginning on or after January 1, 2025, the rate is $1.50 per $1,000 of the tax base, with the tax on the first $1,000,000 capped at $500 and $1.50 per $1,000 applying to net worth above that, per the NCDOR. Senate Bill 595, enacted as Session Law 2026-31, went on to change the treatment of affiliated indebtedness and the net worth calculation (see the state section below).

• Connecticut: The capital base tax rate dropped to 0.0021 (0.21%) for income year 2025, per Connecticut DRS, and falls to 0.0016 (0.16%) for income year 2026 under the statutory schedule in Connecticut statute. Full phaseout is scheduled for income years beginning on or after January 1, 2028.

• New York: The 0.1875% capital base rate, originally set to phase out by 2027, was extended through tax years ending before January 1, 2030, under the FY 2027 budget act signed May 28, 2026, per an RSM tax alert.

• Texas: The no-tax-due threshold is $2,650,000 in annualized total revenue for the 2026 and 2027 report years, per the Texas Comptroller.

• Illinois: The franchise tax exemption was doubled from $5,000 to $10,000 under 805 ILCS 5/15.35, effective for annual reports due on or after January 1, 2025. The franchise tax is administered by the Illinois Secretary of State through the annual report and franchise tax worksheet.

• Iowa: The bank franchise tax, which applies to financial institutions, falls to 3.8% for tax year 2026 and a permanent 3.5% for tax years beginning on or after January 1, 2027 under SF 2367, per the Iowa DOR rate schedule.

• District of Columbia: The FY 2026 Budget Support Emergency Amendment Act of 2025 (Act 26-0146) and FY 2026 Budget Support Amendment Act of 2025 (Act 26-0148) took effect October 1, 2025. For franchise tax purposes they deferred the FAS 109 deduction for certain combined-reporting filers until tax years beginning after December 31, 2029, and raised the maximum amount and income threshold of the Small Retailer Property Tax Relief Credit for TY 2025, per the October 2025 notice. Neither act changed the franchise tax rate or the minimum tax. DC also moved from the Joyce method to the Finnigan method for combined reporting effective January 1, 2026, per a separate DC OTR release.

State-by-state franchise tax details

Here are state-by-state details and compliance resources for the jurisdictions that impose a franchise tax or a franchise-style entity tax.

Alabama

Alabama has a Business Privilege Tax, typically filed by an accountant given the detailed financial information required. Alabama annual report filings are due separately with the Secretary of State. Three numbers define the liability:

• The rate ranges from $0.25 to $1.75 per $1,000 of Alabama net worth, graduated by federal taxable income apportioned to Alabama, per the TY 2026 quick reference.

• Under Alabama Act 2022-252, taxpayers whose calculated tax is $100 or less have no filing requirement for taxable years beginning after December 31, 2023, which covers both TY 2025 and TY 2026. The exemption eliminates the filing obligation and the $100 payment.

• The maximum is $15,000 for most entities, and $3,000,000 for Financial Institution Groups and insurers subject to the Alabama Insurance Premium Tax.

The tax itself is calculated on net worth with some adjustments, multiplied by the "apportionment factor," less deductions.

We wrote a quick guide on Alabama's Business Privilege Tax.

Arkansas

Arkansas Franchise Taxes apply to corporations and LLCs registered in the state, and are typically filed by your accountant. LLCs pay a flat $150 and stock corporations pay 0.3% of outstanding capital stock with a $150 minimum, while non-stock corporations pay a flat $300, per the 2026 franchise tax report instructions. Reports and payments are due on or before May 1 each year, per the Arkansas franchise tax portal; confirm the date against current Secretary of State instructions each year. SB256 from the 2025 Regular Session, which would have cut the minimum to $100, was not enacted.

Arkansas has detailed information on who needs to file and how to file on its website, including the current fee schedule.

We wrote a detailed guide on Arkansas Franchise Taxes.

California

California has a minimum tax for Corporations called a Franchise Tax. Except for most new corporations in their first taxable year, every corporation incorporated, registered, or doing business in California must pay the $800 minimum franchise tax each year, whether active, inactive, or operating at a loss, and the first-year exemption for newly incorporated or qualified corporations remains active under Revenue and Taxation Code §23153(f).

The $800 corporate minimum is due in the first quarter of the accounting period, a timing rule subject to annual change that should be confirmed against current instructions. California has detailed information about the Franchise Tax on the Franchise Tax Board's website.

LLCs in California are required to pay an Annual LLC tax of $800, covered by separate instructions on the Franchise Tax Board's website, and four points matter for anyone filing in 2026:

• The first-year LLC exemption expired on January 1, 2024, and has not been renewed, so LLCs organized in 2024, 2025, or 2026 owe the $800 annual tax beginning in their first tax year.

• The annual tax is due by the 15th day of the 4th month of the taxable year, a date subject to annual change that should be confirmed against current instructions.

• LLCs with total California income exceeding $250,000 owe an additional annual fee ranging from $900 to $11,790 depending on income level.

• LPs, LLCs not classified as corporations, and LLPs fall under separate annual-tax provisions; confirm the current amounts against FTB guidance and enacted statutory text before filing.

The first two items catch most first-year filers by surprise, since the expired exemption and the early deadline compound.

We put together a detailed guide about California's franchise taxes.

Delaware

Delaware has a Franchise Tax for Corporations that uses the lesser of two calculation methods to determine tax due, per the Division of Corporations' franchise tax calculator page:

• Authorized Shares Method: $175 minimum

• Assumed Par Value Capital Method: $400 minimum

• Both methods cap at $200,000 for most corporations, with a $250,000 cap for Large Corporate Filers

Corporate annual reports and taxes are generally due March 1, and corporations owing $5,000 or more in estimated franchise tax pay quarterly installments; confirm the current date against Division of Corporations instructions each year.

The annual tax for LLCs, LPs, and general partnerships rose from $300 to $400 under House Bill 400, effective January 1, 2026, so the $400 rate first applies to the 2026 tax year. Delaware bills this tax in arrears: per the state's alternative entity instructions, the annual taxes for the prior year are due on or before June 1, a date subject to annual change that should be confirmed against current state instructions. The payment due June 1, 2026 therefore covers the 2025 tax year at $300, and the $400 charge for 2026 comes due June 1, 2027.

We wrote a detailed guide on Delaware's franchise taxes.

Georgia

Georgia has a Net Worth Tax, which is in addition to its Corporate Income Taxes, due at the same time. It's typically filed by an accountant. The tax uses a graduated rate structure with a maximum of $5,000 for net worth in excess of $22 million. Corporations with net worth of $100,000 or less are not subject to the net worth tax for net worth years beginning on or after January 1, 2018, though they must still file a return.

Georgia has an FAQ about both taxes on its state website.

Here's a guide about Georgia's Net Worth Tax.

Illinois

The Illinois Secretary of State administers the Illinois Corporate Franchise Tax through the annual report filing, not the Illinois Department of Revenue, and it is typically filed by your accountant. Three figures govern the calculation:

• The rate is 0.1%, one tenth of one percent, of the Illinois-allocated portion of paid-in capital.

• For annual reports due on or after January 1, 2025, the first $10,000 in liability is exempt under 805 ILCS 5/15.35, which states that "the first $10,000 in liability is exempt from the tax imposed under this Section."

• The tax carries a $25 floor and a $2,000,000 ceiling, set for foreign corporations at 805 ILCS 5/15.75.

Those three figures have held since the exemption doubled, because the Illinois franchise tax has not been repealed.

A previously enacted phase-out under P.A. 101-9 was paused and has not resumed, and no enacted repeal date currently exists. HB 5526, filed February 6, 2026, proposes a $100,000 exemption for 2027 and full repeal for domestic corporations on January 1, 2028, but it was re-referred to the Rules Committee on March 27, 2026, and has not passed either chamber, per its bill status page.

For more information, you can read our detailed guide on Illinois Franchise Taxes.

Louisiana

Louisiana had a Franchise Tax based on Capital Employed in addition to its Corporate Income Taxes, and it is now fully repealed for franchise tax periods beginning on or after January 1, 2026. It was typically filed by an accountant.

HB3 of the 2024 Third Extraordinary Session was signed by the Governor on December 4, 2024, becoming Act No. 6, which repeals R.S. 47:601 through 618. Because the repeal reaches periods beginning on or after January 1, 2026, the last period subject to franchise tax is the one beginning in 2025, reported on the CIFT-620 filed in 2026, per the state's repeal FAQ; calendar-year filers faced a May 15, 2026 due date on that final return, with an automatic six-month extension available if a federal extension was timely requested. Alongside the repeal, HB2 (Act No. 5) cut the corporate income tax rate to a flat 5.5% effective January 1, 2025.

We wrote a short guide on the Louisiana Franchise Tax.

Mississippi

Entities taxed as Corporations pay franchise tax annually for the privilege of doing business in the State of Mississippi. The franchise tax is a component of the corporate income and franchise tax return, so it is typically filed by an accountant.

For TY 2026, franchise tax is computed at $0.50 per $1,000 of capital in excess of $100,000, with a $25 minimum, per the state's business tax FAQs. The same guidance sets the legislated phase-down at $0.25 per $1,000 for TY 2027 and full repeal effective January 1, 2028, which is the date carried in Miss. Code § 27-13-5.

For more insights, you can view our short guide on Mississippi's Franchise Tax.

Nebraska

Nebraska has no general-business franchise tax, but it does impose a separate franchise tax on financial institutions alongside its corporate income tax, which is why the state appears differently in different rankings. The Tax Foundation capital stock classification still groups Nebraska with capital stock states. Under Neb. Rev. Stat. §77-3801, though, the tax is based on the financial institution's average deposits rather than capital stock or net worth, applying a statutory cents-per-thousand rate to average deposits in thousands, subject to a cap under §77-3804.

Corporations registered in Nebraska file a biennial report with the Secretary of State. Three official sources cover the rest:

• The Secretary of State publishes filing instructions for the biennial report.

• The Nebraska DOR booklet covers corporate income tax filing.

• The Nebraska Department of Revenue publishes current guidance on the state's other corporate tax obligations.

For additional context, see our guide on Nebraska's business tax obligations.

New York

Both foreign and domestically registered general business corporations typically file franchise taxes alongside their corporate tax return, usually with an accountant's help, and New York publishes short instructions on the basics. The tax is computed as the highest of three alternative bases:

• The business income base

• The capital base, at 0.1875%, now extended through tax years ending before January 1, 2030

• A fixed dollar minimum based on New York receipts

The fixed dollar minimum is a bracketed schedule, not a flat amount. General business C corporations run through twelve brackets, from $25 for New York receipts of $100,000 or less up to $200,000 for receipts over $1 billion, per the 2025 Form CT-3-I. New York S corporations use a shorter schedule running from $25 up to $4,500 for receipts over $25 million, and qualified New York manufacturers and qualified emerging technology companies use a lower schedule again, from $19 to $3,375, per the 2025 Form CT-3-S-I. Check the current-year instructions before computing, since the brackets are revisited periodically.

You can also check out our guide on New York's franchise tax for more insights.

North Carolina

North Carolina imposes a franchise (privilege) tax on domestic and foreign corporations doing business in the state, due as part of the corporate income tax filing and typically prepared by an accountant. For tax years beginning on or after January 1, 2025:

• The rate is $1.50 per $1,000 of the tax base.

• The tax on the first $1,000,000 of the base is capped at $500, with $1.50 per $1,000 applying above that.

• The minimum is $200.

LLCs are excluded from the tax unless they elect to be taxed as corporations.

Senate Bill 595, enacted as Session Law 2026-31 and signed July 2, 2026, changed the franchise tax treatment of affiliated indebtedness and the net worth calculation, and updated IRC conformity from January 1, 2023 to July 5, 2025, per an EY tax alert. The bill is generally effective July 2, 2026, but the elimination of the creditor-side receivable deduction for affiliated indebtedness reaches back to franchise tax year 2021, reported on 2020 corporate income tax returns. The NCDOR publishes detailed information on franchise tax rates, forms, and extension periods.

We also wrote a concise guide on North Carolina's Franchise Tax.

Oklahoma

Oklahoma repealed its franchise tax in 2024. The repeal under House Bill 1039X is fully complete, and no franchise tax filing is required for TY 2024 forward.

Previously, every corporation doing business in Oklahoma had to file a Franchise Tax return, which was typically filed alongside the state corporate income tax filing, by an accountant. Tax year 2023 was the final year for which Oklahoma franchise tax returns were filed, and unpaid balances from that year and earlier remained collectible after the repeal. Oklahoma historically released this tax packet, which described details about both tax filings.

Aside from the Oklahoma franchise tax, you might also have other compliance obligations, which we covered in our detailed guide on Oklahoma compliance.

Rhode Island

Rhode Island imposes a minimum entity-level tax on corporations, LLCs, LPs, and LLPs. The Business Corporation Tax is 7% of net income apportioned to Rhode Island, or a minimum of $400, whichever is greater. This $400 minimum functions similarly to franchise taxes in other states, and pass-through entities other than general partnerships pay a fee equal to that minimum. General partnerships owe no $400 annual fee but must still file Form RI-1065. More details are available from the Rhode Island DOR.

We put together a detailed guide about Rhode Island's business tax.

South Carolina

South Carolina imposes a Corporate License Fee on both C corporations and S corporations, reported with the SC1120. The fee is 0.1% of capital stock and paid-in surplus, plus $15, and the $25 minimum applies to the total computed fee rather than to the $15 component alone.

It is filed with state corporate income tax filings by your accountant. South Carolina has detailed information on who needs to file and how to file on their website.

We have written a quick guide on South Carolina License Fees.

Tennessee

Tennessee has a franchise tax, in addition to its Excise Tax, which is typically filed by an accountant. You can find recent information about both taxes on the state's website.

Under Public Chapter 950 (SB 2103 / HB 1893), signed May 10, 2024, the property measure (Schedule G) was repealed for tax years ending on or after January 1, 2024. The franchise tax is now calculated solely on net worth, as computed on Schedule F, at a rate of 0.25% ($0.25 per $100), with a $100 minimum, per the state's due dates and rates page. A $50,000 net earnings deduction applies to the excise tax base for tax years ending on or after December 31, 2024, and no changes to the 0.25% rate or $100 minimum appear in 2025 or 2026 legislation.

Check out our short guide on Tennessee's Franchise Tax.

Texas

The Texas Franchise Tax is a privilege tax imposed on each taxable entity formed or organized in Texas or doing business in Texas. The tax is calculated as a percentage of a business's margin, which most likely requires detailed input from your accountant. Entities that owe no tax still file a Public Information Report (Form 05-102) or Ownership Information Report (Form 05-167); the No Tax Due Report (Form 05-163) was discontinued for reports due on or after January 1, 2024, per the 2026 franchise forms page. Pre-qualified new veteran-owned businesses are exempt under Tax Code §171.0005 from filing any of these reports for their first five years, a filing exemption rather than a tax exemption alone.

Three rates apply for the 2026 report year, depending on how the entity computes its margin:

• Standard rate: 0.75% of taxable margin

• Retail and wholesale rate: 0.375% of taxable margin

• EZ Computation rate: 0.331%, available to entities with annualized total revenue of $20 million or less

All three come from Form 05-915, and entities at or below $2,650,000 in annualized total revenue for the 2026 report year owe no tax but still file the PIR or OIR.

The state has detailed information on the applicability of the franchise tax to your legal entity and how to pay it on its website. Texas franchise taxes are generally due May 15, tracking the state's annual filing calendar, so confirm the date against current Comptroller instructions each year. If May 15 falls on a Saturday, Sunday, or legal holiday, the next business day becomes the due date.

For more guidance, you can review our detailed guide on Texas Franchise Taxes.

Wisconsin

For Corporations, Wisconsin has a couple of filings that resemble franchise taxes, either in name or format, that are typically filed by an accountant. Foreign-registered Corporations in Wisconsin file an annual report with the Wisconsin Department of Financial Institutions (the "department"), and the filing fee is set by statute at $65, plus any additional statutory amount that applies to the filer.

The state also has Franchise Taxes at a rate of 7.9%, which is the same rate as Wisconsin's Corporate Income Tax, per Wisconsin DOR guidance. The Franchise Tax applies to domestic corporations and foreign corporations doing business in Wisconsin, while the Corporate Income Tax applies to foreign corporations not subject to the Franchise Tax.

We also put together a quick guide on Wisconsin Franchise Tax.

Wyoming

Wyoming's annual report charge for most business entities is generally called a "license tax" or "Annual Report License Tax," and it uses an asset calculation worksheet based on capital, property, and assets located and employed in Wyoming, which an accountant typically files. Per the Wyoming SOS fee schedule and Wyo. Stat. § 17-16-1630, the tax is the greater of $60 or two tenths of one mill on the dollar ($0.0002) of capital, property, and assets located and employed in Wyoming, so entities with $300,000 or less in Wyoming assets pay the $60 minimum. Nonprofit corporations pay a flat $25, and the statute excepts banks, insurance companies, and savings and loan associations from the license tax.

Annual Reports for Wyoming corporations are due on the first day of the registration anniversary month, an anniversary-based deadline rather than a fixed calendar date.

For more guidance, you can check out our detailed guide on Wyoming Franchise Taxes.

Track franchise tax deadlines with Discern

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For firms managing multiple entities across states, such as private equity portfolios registered across many states or fund management companies with multiple LPs and GP LLCs, Discern brings all compliance deadlines and filing statuses into a single dashboard. This reduces the risk of missed franchise tax deadlines during busy filing seasons and cuts the administrative overhead of coordinating with accountants across jurisdictions.

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Frequently asked questions about franchise tax filing

Below are answers to common questions about franchise taxes across U.S. states.

Which states currently impose a franchise or capital stock tax?

The Tax Foundation glossary groups capital stock taxes and franchise taxes together, and the states that levy one include Alabama, Arkansas, Connecticut, Georgia, Illinois, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Rhode Island, South Carolina, Tennessee, and Wyoming. That roster shrinks as repeals take effect: Oklahoma is out entirely, Louisiana's franchise tax ended for periods beginning on or after January 1, 2026, and Connecticut and Mississippi are both mid-phaseout. Several other states, including California, Delaware, Kentucky, and Texas, impose franchise-style taxes calculated differently (flat minimums, margin-based, or gross-receipts-based). Always verify against the relevant state's Department of Revenue or Secretary of State for current obligations.

What's the difference between franchise tax and corporate income tax?

Corporate income tax is calculated on a company's actual net earnings. Franchise tax, by contrast, is charged for the privilege of doing business or maintaining a legal entity in a state, and it applies regardless of whether the entity earns a profit. Franchise taxes are typically calculated using net worth, capital stock, paid-in capital, or flat fees rather than income.

Which states recently repealed their franchise tax?

Oklahoma fully repealed its franchise tax effective TY 2024, with TY 2023 the final filing year. Louisiana's franchise tax repeal took effect for periods beginning on or after January 1, 2026, so the CIFT-620 filed in 2026 carried the last franchise tax calculation. Mississippi is in a legislated phase-down ($0.50 per $1,000 in 2026, $0.25 in 2027), with full repeal scheduled for January 1, 2028. Connecticut's capital base tax is also phasing out, reaching zero for income years beginning on or after January 1, 2028.

Does the District of Columbia have a franchise tax?

Yes. DC maintains an active Corporation Franchise Tax (Form D-20) and an Unincorporated Business Franchise Tax (Form D-30). The FY 2026 Budget Support acts effective October 1, 2025 deferred the FAS 109 deduction for certain combined-reporting filers and adjusted the Small Retailer Property Tax Relief Credit; they did not change the 8.25% rate or the minimum tax tiers.

Has Illinois repealed its franchise tax?

No. The Illinois franchise tax remains in effect. A previously enacted phase-out was paused and has not resumed. The current exemption covers the first $10,000 of computed liability for Illinois annual report filings due on or after January 1, 2025. HB 5526, which proposes full repeal for domestic corporations by January 1, 2028, was re-referred to the Rules Committee on March 27, 2026, and has not been enacted.

Are LLCs subject to franchise tax?

It depends on the state. California, Delaware, Kentucky, Rhode Island, Tennessee, and Texas all impose franchise-style taxes or minimum entity taxes on LLCs, and Arkansas and Wyoming charge LLCs flat franchise or license taxes as well, so treat this list as illustrative rather than exhaustive. North Carolina excludes LLCs unless they elect corporate taxation, per the NCDOR bulletin, and several other states with franchise taxes apply them only to corporations. Check the specific state's rules for your entity type. Delaware's annual tax for LLCs and LPs is $400 for the 2026 tax year, payable on or before June 1, 2027.