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1. • • A unitary business is a single economic enterprise made up of one or more entities that provide a synergy and mutual benefit that pro- duces a value among them.
     Reference:

     Texas Franchise Tax July 2018 - Texas Taxpayers and Research ...

2. People also ask

   Do I need to file a franchise tax report in 2024?

   • However, effective for reports due in 2024, taxable entities with total revenue at or below the no tax due threshold are no longer required to file a Franchise Tax Report but must continue to file an information report each year.

   Franchise Tax Overview - Texas Comptroller of Public Accounts

   comptroller.texas.gov/taxes/publications/98-806.php

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   How do you calculate a franchise tax report?

   • To annualize total revenue, divide total revenue by the number of days in the period upon which the report is based, and multiply the result by 365. Example: A taxable entity’s 2023 franchise tax report is based on the period 09-15-2022 through 12-31-2022 (108 days), and its total revenue for the period is $400,000.

   2023 Texas Franchise Tax Report Information and Instructions

   comptroller.texas.gov/forms/05-911.pdf

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   Does a new veteran-owned business have to file a franchise tax report?

   • taxable entity that is verified as a new veteran-owned business must file a No Tax Due Report (Form 05-163) for each reporting period the franchise tax is not imposed on the taxable entity. However, the new veteran-owned business is not required to file a Public or Ownership Information Report.

   2023 Texas Franchise Tax Report Information and Instructions

   comptroller.texas.gov/forms/05-911.pdf

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   How do I electronically file and pay my franchise tax report?

   • Electronically file and pay your franchise tax report using Webfile. It helps with mathematical computations and has built-in edits to help you avoid mistakes that could lead to unnecessary billings and the forfeiture of an entity’s right to transact business in Texas. Electronic filing and paying is available 24 hours a day.

   2023 Texas Franchise Tax Report Information and Instructions

   comptroller.texas.gov/forms/05-911.pdf

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3. comptroller.texas.gov › taxes › publicationsFranchise Tax Overview - Texas Comptroller of Public Accounts

   comptroller.texas.gov › taxes › publications

   • Cached

   Jan 1, 2008 · Each taxable entity formed in Texas or doing business in Texas must file and pay franchise tax. These entities include: corporations; limited liability companies (LLCs), including single member LLCs (SMLLCs) and series LLCs; banks; state limited banking associations; savings and loan associations; S corporations; professional corporations;

4. comptroller.texas.gov › forms › 05-9112023 Texas Franchise Tax Report Information and Instructions

   comptroller.texas.gov › forms › 05-911

   Example: A taxable entity’s 2023 franchise tax report is based on the period 09-15-2022 through 12-31-2022 (108 days), and its total revenue for the period is $400,000. The taxable entity’s annualized total revenue is $1,351,852 ($400,000 divided by 108 days multiplied by 365 days).

5. comptroller.texas.gov › taxes › franchiseFranchise Tax - Texas Comptroller of Public Accounts

   comptroller.texas.gov › taxes › franchise

   • Cached

   Jan 1, 2024 · The Texas franchise tax is a privilege tax imposed on each taxable entity formed or organized in Texas or doing business in Texas. For general information, see the Franchise Tax Overview. File and Pay Franchise Tax. Approved Tax Preparation Software Providers. Filing and Payment Requirements. Request an Extension. Report Common Owner Information.

6. texas.public.law › statutes › texTexas Tax Code Section 171.0001 – General Definitions

   texas.public.law › statutes › tex

   • Cached

   Sep 1, 2013 · Franchise Tax. § 171.0001. Tax Code Section 171.0001. General Definitions. In this chapter: (1) “Affiliated group” means a group of one or more entities in which a controlling interest is owned by a common owner or owners, either corporate or noncorporate, or by one or more of the member entities. (1-a)

7. texreg.sos.state.tx.us › public › readtac$extTexas Administrative Code - Secretary of State of Texas

   texreg.sos.state.tx.us › public › readtac$ext

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   (6) Unitary business--A single economic enterprise that is made up of separate parts of a single entity or of a commonly controlled group of entities that are sufficiently interdependent, integrated, and interrelated through their activities so as to provide a synergy and mutual benefit that produces a sharing or exchange of value among them ...

8. www.sprouselaw.com › when-do-related-business-inWhen do related business in Texas have to file a combined ...

   www.sprouselaw.com › when-do-related-business-in

   • Cached

   May 22, 2023 · Entities have to file a combined franchise tax return if they are part of a Combined Group. A Combined Group is two or more taxable entities that are part of an affiliated group engaged in a unitary business under Texas Tax Code §171.1014. Both Affiliated Group and Unitary Business are defined terms under the statutes and 34 Tex. Admin. Code ...