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Corporation Capital Tax is imposed on corporations which have
paid-up capital in excess of $10,000,000.
An
additional exemption of up to $10,000,000 is available for fiscal
years beginning on or after January 1, 2005. The amount
of the exemption is based upon the proportion of total salaries
and wages that are paid in Saskatchewan by a taxable corporation
and its associated corporations. Paid-up capital generally
includes retained earnings, capital stock, and long term debt.
The capital
tax is calculated on balance sheet values as at the fiscal year
end and a return must be filed within six months after the fiscal
year end. Corporations that have a capital tax liability of more
than $4,800 per year must file monthly installments.
As a result of the April 6, 2006 Saskatchewan Budget, the Corporation
Capital Tax rate used by corporations to calculate their Corporation
Capital Tax payable, will be reduced effective
July 1, 2006 and
completely eliminated on July 1, 2008. Also, the Corporation Capital
Tax Resource Surcharge rate paid by a resource corporation will
be reduced July 1, 2006.
Please see Rates and Revenue below for further information.
- Bulletin
Index: a listing of all bulletins relating to the Corporation
Capital Tax
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©2006
