Get the free Form 50-758 - tad

This exemption application applies to 'goods-in-transit' as governed by Tax Code § 11.253. It provides instructions for property owners to apply for exemptions related to tangible personal property

How to fill out form 50-758 - tad

How to fill out Form 50-758

1. Obtain Form 50-758 from the relevant authority or website.
2. Fill out the heading with your name, address, and contact information.
3. Provide the necessary identification details as required in the form.
4. Indicate the purpose of the form and any related details.
5. Review the instructions provided with the form for any specific requirements.
6. Sign and date the form at the bottom.
7. Submit the completed form to the designated office or online portal.

Who needs Form 50-758?

1. Individuals or entities applying for certain tax exemptions or benefits.
2. Business owners seeking to report specific information to the tax authority.
3. Residents of a locality who need to document particular updates for local government.

People Also Ask about

What is property tax code 11.31 in Texas?

Texas Tax Code - TAX § 11.31. Pollution Control Property. (a) A person is entitled to an exemption from taxation of all or part of real and personal property that the person owns and that is used wholly or partly as a facility, device, or method for the control of air, water, or land pollution.

How does the Texas veteran property tax exemption work?

In Texas, veterans with a disability rating of: 100% are exempt from all property taxes. 70 to 100% receive a $12,000 property tax exemption. 50 to 69% receive a $10,000 property tax exemption.

What is the property tax code 11.251 in Texas?

Tangible Personal Property Exempt. (a) In this section, “freeport goods” means property that under Article VIII, Section 1-j, of the Texas Constitution is not taxable.

What is the goods in transit exemption in Texas?

A "goods in transit" exemption (Section 11.253) applies to goods acquired inside or outside Texas, detained for storing purposes by the person who acquired or imported the property, and then shipped to another location in or out of Texas within 175 days.

At what age do seniors stop paying property taxes in Texas?

To qualify for the age 65 or older residence homestead exemption, the individual must be age 65 or older, have an ownership interest in the property and live in the home as his or her principal residence.

What is the new law in Texas about property taxes?

In 2023, the $100,000 Homestead Exemption was permanently codified into the Texas Constitution when voters passed Proposition 4 with 83% of voters in support. This makes the $100,000 Homestead Exemption permanent, and homeowners will receive tax relief every single year, forever.

For pdfFiller’s FAQs

What is Form 50-758?

Form 50-758 is the Texas franchise tax report that certain businesses must file to report their revenue and calculate their tax liability.

Who is required to file Form 50-758?

Entities that are subject to Texas franchise tax, including corporations and limited liability companies (LLCs) doing business in Texas, are required to file Form 50-758.

How to fill out Form 50-758?

To fill out Form 50-758, a taxpayer must provide information about their business, including gross receipts, total revenue, and any deductions. The form requires specific calculations to determine the tax owed based on the reported figures.

What is the purpose of Form 50-758?

The purpose of Form 50-758 is to report and calculate the franchise tax owed by businesses operating in Texas, ensuring compliance with state tax laws.

What information must be reported on Form 50-758?

Form 50-758 requires businesses to report information such as gross receipts, total revenue, deductions, and any applicable credits, as well as basic business details like the entity’s name and identification number.