Certain brokerage and related businesses must calculate the license on gross annual commissions or profits, and pay the scheduled minimum tax amount.
§357. Brokerage and commission agents A. For every factorage, commission, or brokerage business; dealers in stocks or bonds as principal; stocks, bonds, or cotton factors, commission or brokerage businesses, whether or not the principal or party solicited is within or without the state, including but not limited to all businesses enumerated in this Section, the license shall be based on gross annual commissions and brokerages earned on sales and purchases. The amount of the license shall be as shown in the table below and shall be subject to applicable deductions. The Annual If the Gross Annual Commission and Brokerage are: License Shall As Much As But Less Than Be: $ 0 $ 15,000 $ 50 15,000 20,000 70 20,000 25,000 90 25,000 30,000 112 30,000 40,000 137 40,000 50,000 180 50,000 65,000 225 65,000 80,000 300 80,000 100,000 360 100,000 125,000 450 125,000 150,000 600 150,000 175,000 675 175,000 200,000 750 200,000 250,000 900 250,000 300,000 1,050 300,000 350,000 1,200 350,000 400,000 1,400 400,000 450,000 1,600 450,000 500,000 1,800 500,000 550,000 2,000 550,000 600,000 2,200 600,000 650,000 2,400 650,000 700,000 2,600 700,000 750,000 2,800 750,000 800,000 3,000 800,000 850,000 3,200 850,000 900,000 3,400 900,000 950,000 3,600 950,000 ....... 3,700 B. This schedule includes, but is not limited to: (1) Brokerages in money, produce, or sugar. (2) Cotton compress businesses. (3) Cotton factor and commission businesses. (4) Cotton future brokerages. (5) Cotton pickeries. (6) Distillers of alcohol. (7) Grain and product commission houses. (8) Businesses engaged in leasing, renting, or licensing the use of immovable property. (9) Livestock auctions. (10) Manufacturer's agents. (11) Operators of office buildings. (12) Owners or lessees of toll bridges or ferries. (13) Real estate brokers. (14) Slaughter houses. (15) Steamboat or steamship agencies. (16) Stock or bonds brokerages. (17) Sugar factories. C. For carrying on each business of dealing in or buying and selling stocks or bonds, as principal, the license shall be based on gross annual profits; however, where no gross annual profit is realized, the minimum tax under the above schedule shall be paid. Acts 1986, No. 1017, §1, eff. Jan. 1, 1987; Acts 1988, No. 752, §1, eff. Jan. 1, 1989; Acts 1991, No. 319, §1.