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    Texas Franchise

    Filing requirements have been delayed, but does an extension need to be filed by May 15th. My software does not appear to have all the forms yet.

    #2
    Texas Margin Tax

    I see no one has responded.

    Have you checked the state comptroller's website:

    Texas Comptroller of Public Accounts The Texas Comptroller’s office is the state’s chief tax collector, accountant, revenue estimator and treasurer. This office strives to provide you the best possible services and resources to do business in Texas. This website provides you with easy access to tax forms, lookup tools and the ability to file and pay taxes.


    Your client will not get the forms in the mail. Your software should be able to provide them. Or, you can get online at the above site.

    One note, you really need to print the instructions. The instructions went from 4 pages to 24 pages.

    Great fee possibilities!

    I estimate my fee this year will be 2 to 3 times my fee last year.
    Jiggers, EA

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      #3
      The Texas franchise tax is a privilege tax imposed on each taxable entity formed or organized in Texas or doing business in Texas.


      and extensions and preservations made within the 30-day period (i.e., on or before June 16, 2008 for annual reports and June 2, 2008 for initial reports) will be considered timely.
      Texas really dropped the ball on this one IMO. No final forms released until end of March? Forms that were still modified after the "final" versions were released? There's speculation that the whole thing was done so that normal tax season would be over before people realized just how much their taxes were going to go up.

      As for getting forms from your tax software, it's going to depend. Looks like a lot of the major ones are already forms approved. However, not all. TRX for example doesn't have forms approval. At any rate with extensions now given yet another 30 days to file they should hopefully have it by then.

      You also will have to spend extra time on these Texas forms for two reasons. 1) Because of all the changes you'll want to make sure you didn't miss anything. 2) Because all of the software companies were rushed to get this released the testing and features are probably very skimped on. So you'll need to scrutinize the forms all that much more than normal.

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