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  1. 3 days ago · What is the Texas Franchise Tax? Texas franchise tax is a “privilege tax” for doing business in Texas. Part of this privilege includes liability protections provided by state law. The franchise tax is administered by the Texas Comptroller of Public Accounts.

    • Ein Number

      The Annual Reports for Texas LLCs (and out-of-state LLCs...

    • Taxes

      The Franchise Tax and Public Information Report used to be...

    • Operating Agreement

      Here is a Manager-managed Operating Agreement template...

    • Certificate of Formation

      How to form your Texas LLC online with SOSDirect (filing...

  2. 3 days ago · The franchise tax applies to Texas LLCs making over $2.47 million in 2024. Businesses under this threshold are no longer required to file the No Tax Due Report, though they still must file Form 05 ...

  3. 3 days ago · Texas, however, adheres strictly to the form of the transaction. In this case, a creditor sued the buyer of a bankrupt company’s assets, claiming successor liability. The buyer, based outside of Texas, moved to dismiss the claims, arguing that Texas law applied.

  4. 1 day ago · When dissolving a corporation in Texas, the first step is to get approval from the board of directors, followed by a shareholder vote if required. Once approved, the corporation must file a Certificate of Termination with the Texas Secretary of State. Additionally, the business needs to clear any outstanding tax obligations by obtaining a ...

  5. 4 days ago · A fiscal year may include a 52-53-week tax year. You must use the same tax year for both your business and nonbusiness income. For example, if you report your business income on a fiscal year, you must report your nonbusiness income on a fiscal year.

  6. 4 days ago · The California Franchise Tax Board (FTB) recently issued a long-awaited Notice of Proposed Rulemaking to amend its regulation, 18 CCR 25136-2, that covers market-based sourcing rules for sales of other than tangible personal property. A prior version of this regulation was finalized in 2016 and became operative on January 1, 2017.

  7. 21 hours ago · Governor Greg Abbott today celebrated the Texas economy expanding faster than the nation in 2023 following the release of data by the Bureau of Economic Analysis (BEA). The Texas economy expanded at an annual rate of 7.4% while the nation expanded at 2.9% as measured by the change in real gross domestic product (GDP) from 2022 to 2023.

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