To refresh, in March 2022, the Texas Supreme Court held that, for purposes of the Texas franchise tax, receipts from the provision of a service are sourced to the location of performance, i.e., the location of the taxpayer’s personnel or equipment that performs the service for which th...
No matter which form you file, your Texas Franchise Tax Report is due May 15th each year. (If May 15th falls on a weekend, the due date will be the following business day.) The other reports may be filed online or by mail. Online filings will be charged a $1 service fee. ...
The second special legislative session ended recently in Texas with passage of several significant tax bills involving franchise tax, insurance premium tax, and motor fuels tax. Franchise Tax and Insurance Tax Credits for Expenses to Rehabilitate Certain Historic Structures The Legislature created a new...
The Eyes of Texas: Texas Replaces Franchise Tax SystemLance S. Jacobs
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A handful of states require the filing of initial reports and tax forms rather than waiting to file an annual report. Finally, entities that are involved in certain specific industries or types of businesses (e.g., education/school based, childcare based businesses, or businesses selling alcohol...
The Texas franchise tax is based on the taxable margin of certain entities that do business in Texas. An entity’s taxable margin is equal to either 70% of the entity’s total revenue, or the entity’s total revenue less a deduction for one of the following: (i) $1...
The Predators select four players in the 2018 NHL draft held at American Airlines Center in Dallas, Texas. The Preds traded their first pick of the day (No. 89) to Florida for a 2019 third-round pick, selected forward Jáchym Kondelík (No. 111), defenseman Spencer Stastney (No. 132)...
usually subject to franchise taxes and other forms of state business income tax, in part because these businesses are not formally registered with the state in which they do business. The following entities are not subject to franchise tax (with an example citation to the Texas comptroller office...
Texas Supreme Court Rejects Equal and Uniform Arguments Against the Texas Franchise TaxRenn G. Neilson