Doing Business in Texas: An Overview of the Texas Franchise (Margin) Tax
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Gain an understanding on how to apportion margin to Texas and identify various reporting options.The Texas Franchise (Margin) Tax has evolved over time. Recent changes in economic nexus and expanded physical presence by global businesses have expanded the reach of the Texas franchise tax to additional entities, resulting in expanded filing requirements. This topic will help business owners and advisors to identify which businesses are subject to reporting requirements and to evaluate, at a high level, the various reporting options. The material also explains the method for tracking costs necessary for calculating cost of goods sold and compensation, and apportioning revenues. These aspects of the franchise (margin) tax have been affected by recent case law. Failing to comply with franchise tax filing and payment requirements can have serious consequences, including franchise tax forfeiture and individual liability for officers and directors. Learn what you and your clients need to be doing now to prevent problems in the future.
AuthorsChristina A. Mondrik, Esq., CPA, Mondrik & Associates
The Texas Franchise (Margin) Tax
• What Is Doing Business?
• Reporting Requirements and Options
• Franchise Tax Forfeiture
An Overview of Margin
• Cost of Goods Sold
Apportionment, Tax Rates, and Credits
• Texas Gross Receipts
• Retailers and Wholesalers
• Credits and Exemptions