Capital stock is the number of common and preferred shares that a company is authorized to issue, and is recorded in shareholders' equity. Corporations must pay an annual Illinois franchise tax based on the amount of paid-in capital as of the 3rd month before the corporation's anniversary month.Loans or discounts on capital stock. Fifteen states levy capital stock taxes (often called franchise taxes, though some states use that term for different types of taxes as well). This document is sometimes referred to as the charter. This definition typically translates into the sum of two amounts detailed on a corporation's books and balance sheet. When a public company wants to raise money, it may issue a round of common stock shares. Outstanding shares of stock (including nonvoting stock). 7. Capital gain (or loss). 8. Other gains (or losses) (i.e.

Capital Stock Definition In Illinois

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