Texas does not impose a corporate income tax — but that doesn’t mean businesses don’t pay any taxes to the state. Texas collects gross receipts taxes, which are assessed based on the total amount of money a business takes in. … The state’s franchise tax, which has key .
The entity has $300,000 or less in Total Revenue. The entity has zero Texas Gross Receipts. The entity used the 2008 Temporary Credit for Business Loss .
Your business can qualify to file a No Tax Due Report if any of the following statements are true: your business is an entity or a combined group with annualized total revenue less than or equal to the No Tax Due threshold; your business has zero Texas receipts; your business is a passive entity as defined in Chapter .
Hi. My name’s Lane. I can help here. … zero Texas Gross Receipts would mean that NO gross income was received (revenue, irrespective of .
axpayer is a passive entity; Taxpayer is a Real Estate Investment Trust that meets the qualifications; The entity has zero Texas Gross receipts; The annualized .