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Level 3
posted Feb 1, 2024 4:02:44 PM

Where do I input my franchise fees for federal deductions?

My company is charged a state franchise tax. Where am I supposed to enter this in the federal tax deductions? The best place I could find was the "Taxes & licenses" section, but the only option that seemed the "most" appropriate but still not perfect was "Licenses, permits and fees." Is that the right line, or is the state franchise tax charge supposed to go somewhere else?

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1 Replies
Expert Alumni
Feb 1, 2024 4:14:06 PM

Licenses permits and fees would be acceptable.