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 .
Select Yes when the entity meets the definition of a passive entity found in Section 171.0003 of … Does this entity have zero Texas gross receipts?
zero Texas Gross Receipts would mean that NO gross income was received (revenue, irrespective of expenses and eventual profit)
Every LLC in Texas must file an annaul Franchise Tax Report … At first, it can be a little overwhelming and hard to figure out what each of them mean. …. “yes” for the “Does this entity have zero Texas Gross Receipts” question.
The entity has zero Texas Gross Receipts. The entity used the 2008 Temporary Credit for Business Loss Carryforwards. This is no longer a valid field. See page .
Gross receipts are the sales of a business that form the basis for corporate taxation in certain individual states. … Also, gross receipts do not account for discounts or price adjustments. … Texas Tax Code Section 171.103 defines gross receipts for a business as the … Amortization of Intangibles Definition.