The state’s franchise tax, which has key characteristics of a gross receipts tax, applies to all business except sole proprietorships. Texas has no corporate income tax, but it still taxes state businesses.
For a Texas entity, the end date is the effective date of the termination, merger or … Select Yes when the entity has zero Texas gross receipts.
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 .
The entity is passive as defined in Chapter 171 of the Texas Tax Code. The entity has $300,000 or less in Total Revenue. The entity has zero Texas Gross.
Note: Rental income is not passive per the Texas Tax Code. The entity has zero Texas gross receipts. The entity has a tax due of less than .
I looked around and I couldn’t find anything that I really understood that explained what zero Texas Gross Receipts means. I assume I’ll put yes .