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The Texas franchise tax is a privilege tax imposed on each taxable entity formed or organized in Texas or doing business in Texas. For general information, see the Franchise Tax Overview.
Forms for reporting Texas franchise tax to the Texas Comptroller of Public Accounts.
Texas Tax Code Section 171.001 imposes franchise tax on each taxable entity that is formed in or doing business in Texas. Taxable entities may need to file franchise tax and information reports each year.
14 Αυγ 2023 · According to the Texas Comptroller, the franchise tax is “Texas’ primary tax on business.” For the most part, if you’re required to collect and remit Texas sales tax, you’d also have a Texas franchise tax obligation.
12 Μαρ 2021 · The Texas Comptroller defines the Texas franchise tax as: “a privilege tax imposed on each taxable entity formed or organized in Texas or doing business in Texas.” Legally, it’s defined as a fee for the right to conduct a substantial amount of business in Texas.
telecommunication companies could lawfully pass the entire 5% franchise fee (capped by the law) onto customers, even that portion of the expense that were unrelated to customer’s use of the service – i.e. advertising and home shopping
Texas businesses making over $2.47 million per year need to pay Texas franchise tax. If your business is under this tax threshold, you’ll still most likely need to file a Public Information Report with the Texas Comptroller.
