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The New Texas Margin Tax—The Margin Tax Expands the Types of Entities Subject to Taxation
The new Texas Margin Tax expands the entities which are subject to tax, however, exemptions exist for certain entities, small businesses, and passive investment entities.
Religious Organizations May Be Exempt from the Franchise Tax
Religious organizations and many other kinds of organizations are allowed an exemption from the Texas franchise tax. To obtain the franchise tax exemption, organizations must submit an application to the Texas Comptroller ...
The New Texas Margin Tax—Understanding How the Margin Tax is Computed
A short essay discussing how taxable entities calculate the new Texas Margin Tax.
The New Texas Margin Tax—The Margin Tax Implements Combined Group Reporting
The Texas Margin Tax requires affiliated entities engaged in a unitary business to file a combined group report. The Texas Margin Tax also increases the entity types which are subject to tax.
The New Texas Margin Tax—Understanding the Effective Dates and Anticipated Legislative and Comptroller Guidance
The new Texas margin tax significantly changes Texas law, has a combined group reporting requirement, and has different effective dates for calendar year and fiscal year taxpayers.
Agricultural, Public Interest, and Burial Organizations May Be Exempt from the Franchise Tax
Many nonprofit organizations may qualify for a franchise tax exemption, but must first submit a written application to the Texas Comptroller of Public Accounts. These organizations are still responsible for paying other ...
Educational, Public Charity, and Federal Income Tax Exempt Organizations May Be Exempt from the Franchise Tax
Many types of organizations are eligible for a franchise tax exemption, but they must follow the Texas Administrative Code procedures to receive the exemption.
Taxpayers Must File Annual and Information Reports to Comply with the Franchise Tax
Taxpayers must file an annual report with the Texas Comptroller of Public Accounts by May 15 of each year unless they have been approved for a filing time extension.
Call to the Texas Legislature: The Franchise Tax Needs Substantive Changes, Not Just Rate Reductions
This articles addresses one of several substantive issues that persist in the Texas Franchise Tax Code that requires the legislature’s attention. With the next legislative session set to begin in early 2017, the hope is ...