Texas franchise tax affiliate schedule 2025

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The document outlines the filing requirements for Texas franchise tax, including details on reporting entity taxpayer information, gross receipts, and cost of goods sold. It emphasizes the need for common owner information for combined groups with business loss carryforwards and mandates the submission of an information report for each affiliate with a presence in Texas.

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Click ‘Get Form’ to open the Texas Franchise Tax Affiliate Schedule in our editor.
Begin by entering the reporting entity taxpayer number and name in the designated fields. Ensure accuracy as this information is crucial for identification.
Indicate the report year by filling in the appropriate year in the provided space. This helps in tracking your tax obligations over time.
If applicable, blacken the circle indicating if your entity is disregarded for franchise tax purposes. This is important for compliance with Texas tax regulations.
Fill out gross receipts subject to throwback in other states, gross receipts everywhere, and gross receipts specifically in Texas. These figures are essential for calculating your tax liability.
Lastly, provide details on cost of goods sold or compensation before eliminations. If none apply, use your FEI number as instructed.

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Are partnerships subject to Texas franchise tax?

Partnerships are taxed at the entity level and not as a pass-through entity. Each entity is taxed regardless of federal treatment. A single member LLC cannot be treated as a sole proprietor or a disregarded entity for franchise tax purposes. Any entity that is formed in a manner that limits its liability is taxed.

What is an affiliated group in Texas?

(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.

What is an affiliated group on a tax return?

An affiliated group is two or more corporations that are related through common ownership but are treated as one for federal income tax purposes. An affiliated group consists of a parent corporation and one or more subsidiary corporations.

What is a combined group?

A combined group consists of entities in which. o a controlling interest is owned and o the entities are engaged in a unitary business.

What are the dates for franchise tax in Texas?

The annual franchise tax report is due May 15. If May 15 falls on a weekend or holiday, the due date will be the next business day.

form 05 166 texas 2022

Texas franchise tax affiliate schedule pdf Texas franchise tax Affiliate Schedule instructions Texas Franchise Tax instructions 2025 Texas franchise tax affiliate schedule 2022 Texas Franchise Tax EZ Computation Report 2025 Texas franchise tax threshold 2025 texas 05-166 instructions Texas Franchise Tax Public Information Report instructions

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What is an affiliated group for Texas franchise tax?

(1) Affiliated group--Entities in which a controlling interest is owned by a common owner, either corporate or noncorporate, or by one or more of the member entities.

Does a single member LLC need to file a Texas franchise tax return?

Texas single member LLCs are not required to file an annual report but must submit an annual franchise tax report. Franchise taxes are based on net surplus and vary depending on the LLCs income.

How does the franchise tax work in Texas?

Franchise tax is based on a taxable entitys margin. Unless a taxable entity qualifies and chooses to file using the EZ computation, the tax base is the taxable entitys margin and is computed in one of the following ways: total revenue times 70 percent; total revenue minus cost of goods sold (COGS);

Texas franchise tax affiliate schedule 2025

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Are partnerships subject to Texas franchise tax?

What is an affiliated group in Texas?

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What are the dates for franchise tax in Texas?

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What is an affiliated group for Texas franchise tax?

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