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Texas form 05 163 2016

Texas form 05 163 2016-2025

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The document is a Texas Franchise Tax No Tax Due Information Report, which allows entities to report their tax status if they qualify under specific criteria such as being a passive entity, having total revenue below the no tax due threshold, or having zero Texas gross receipts. It includes sections for taxpayer information, revenue details, and instructions for filing.

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Do I have to file a no tax due report in Texas?

For reports originally due on or after Jan. 1, 2024, the no tax due threshold is increased to $2.47 million. For reports originally due on or after Jan. 1, 2024, a taxable entity whose annualized total revenue is less than or equal to $2.47 million is no longer required to file a No Tax Due Report.

How do I get a tax clearance to reinstate an entity in Texas?

Complete and submit Form 05-391, Tax Clearance Letter Request for Reinstatement (PDF), via mail or online using Webfile. Then, submit these items to the SOS (see Connecting with the Secretary of State section below).

Who needs to file a Texas franchise tax report?

Each taxable entity formed as a corporation, limited liability company (LLC), limited partnership, professional association and financial institution that is organized in Texas or has nexus in Texas must file Form 05-102, Texas Franchise Tax Public Information Report (PIR) annually to satisfy their filing requirements.

How to avoid franchise tax in Texas?

The following entities do not file or pay franchise tax: sole proprietorships (except for single member LLCs); general partnerships when direct ownership is composed entirely of natural persons (except for limited liability partnerships); entities exempt under Tax Code Chapter 171, Subchapter B;

Does Texas require you to file a tax return?

Texas Income Taxes. Since Texas does not collect an income tax on individuals, you are not required to file a TX state income tax return. However, you may need to prepare and e-file a federal income tax return or other state tax return.

Do I have to file taxes if no tax is due?

Generally, you need to file if: Your income is over the filing requirement. You have over $400 in net earnings from self-employment (side jobs or other independent work) You had other situations that require you to file.

Does Texas State require you to file a tax return?

Texas residents do not file returns for state income taxes.

Texas form 05 163 2016-2025

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Do I have to file a no tax due report in Texas?

How do I get a tax clearance to reinstate an entity in Texas?

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How to avoid franchise tax in Texas?

Does Texas require you to file a tax return?

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Do I have to file taxes if no tax is due?

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Texas form 05 163 2016-2025

Here's how it works

How to rapidly redact Texas form 05 163 2016 online

Complete this form in 5 minutes or less

Got questions?

Do I have to file a no tax due report in Texas?

How do I get a tax clearance to reinstate an entity in Texas?

Who needs to file a Texas franchise tax report?

How to avoid franchise tax in Texas?

Does Texas require you to file a tax return?

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People also ask

Do I have to file taxes if no tax is due?

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