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Use our online search to find a taxpayer's Franchise Tax Account Status. The "Franchise Tax Account Status," previously referred to as "Good Standing," provides the status of an entity's right to transact business in Texas.
Learn how to resolve this issue and ensure your franchise tax filings and payments are current. Then obtain a tax clearance letter from the Comptroller's office to reinstate your registration at the SOS.
Taxpayers who paid $500,000 or more for any specific tax are required to transmit payments using TEXNET. If you paid $10,000 or more for the following: Sales/Use Tax. Franchise Tax. Bank Franchise Tax. Crude Oil Purchaser. Crude Oil Producer. Diesel Fuel.
Why did I get a franchise tax notice? 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.
The Texas franchise tax is a privilege tax imposed on each taxable entity formed or organized in Texas or doing business in Texas. What does an entity file if it is ending its existence or no longer has nexus?
Taxpayers and tax preparers who have the franchise tax Webfile (XT) number or who have previously used Webfile for franchise tax and are registered with the SOS can request Certificates of Account Status for Termination or Withdrawal and Tax Clearance Letters for Reinstatement.
Any taxable entity that owes any amount of franchise tax where the tax was not remitted electronically is required to submit the payment form with a check or money order made payable to the Texas Comptroller. Please put the reporting entity’s Texas taxpayer number and the report year on the check.
How to File and Pay Franchise Tax. You can file your reports and pay any tax due: online electronically through Webfile; by mailing Franchise Tax Forms; in person at a local Comptroller Field Office; or; using tax preparation software. Locating Your Webfile Number
Forms for reporting Texas franchise tax to the Texas Comptroller of Public Accounts.
Franchise tax reports are due on May 15 each year. If May 15 falls on a Saturday, Sunday or legal holiday, the next business day becomes the due date. The Comptroller’s office will tentatively grant an extension of time to file a franchise tax report upon timely receipt of the appropriate form.