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Jan 10, 2024 · Elimination of No-Tax-Due Reports. Starting in 2024, entities that fall below the new no-tax-due threshold will not be required to file the traditional no-tax-due report (Form 05-163). This move is designed to streamline the reporting process and reduce administrative burdens on businesses.
Jan 1, 2024 · Franchise Tax Due Date is May 15th Notice: New Filing Requirements for 2024. The no tax due threshold is increased to $2.47 million and certain filing requirements are eliminated. Read more. Beneficial Owner Information Reports Under Federal Corporate Transparency Act New federal filing requirements as of Jan. 1, 2024.
Jan 31, 2024 · The agency said in a press release that the top tax rate remains 37% for individual single taxpayers with incomes greater than $609,350, or $731,200 for married couples filing jointly. The other ...
Jan 1, 2014 · (1) Tax Code, §171.362 (Penalty for Failure to Pay Tax or File Report), imposes a 5.0% penalty on the amount of franchise tax due by a taxable entity that fails to report or pay the tax when due. If any part of the tax is not reported or paid within 30 days after the due date, an additional 5.0% penalty is imposed on the amount of tax unpaid.
Date Mail original to: Texas Comptroller of Public Accounts P.O. Box 149348 Austin, TX 78714-9348 ( ) - VE/DE PM Date 05-163 (Rev.9-17/9) Texas Franchise Tax No Tax Due Report ZIP code plus 4 The law requires No Tax Due Reports originally due on or after Jan.1, 2016 to be ˜led electronically. Filing this paper report means you are requesting ...
Any entity that does not elect to file using the EZ Computation, or that does not qualify to file a No Tax Due Report, should file the Long Form report. 05-158-A and 05-158-B, Franchise Tax Report (pages 1 and 2) - ANNUAL (PDF) or FINAL (PDF) 05-160, Credits Summary Schedule - ANNUAL (PDF) or FINAL (PDF) 05-102, Public Information Report ...
(1) Tax Code, §171.362 (Penalty for Failure to Pay Tax or File Report), imposes a 5.0% penalty on the amount of franchise tax due by a taxable entity that fails to report or pay the tax when due. If any part of the tax is not reported or paid within 30 days after the due date, an additional 5.0% penalty is imposed on the amount of tax unpaid.
