TX Comptroller 05-158-A 2020 free printable template

RESET FORM 05158A (Rev.916/9)PRINT FORM Texas Franchise Tax Report Page 1 FILING REQUIREMENTSTcode 13250 Annual Taxpayer underreport overdue date2 0 2 005/15/2020Taxpayer name Secretary of State file

How to fill out TX Comptroller 05-158-A

How to fill out TX Comptroller 05-158-A

1. Download the TX Comptroller 05-158-A form from the official website.
2. Provide your business name and address in the designated fields.
3. Enter your Texas taxpayer number or federal employer identification number (EIN).
4. Fill out the appropriate sections based on the type of business and the services provided.
5. Detail the nature of the exemption being applied for and attach any required documentation.
6. Review the form for accuracy and completeness.
7. Sign and date the form before submission.
8. Submit the completed form to the appropriate office via mail or online, as instructed.

Who needs TX Comptroller 05-158-A?

1. Businesses seeking a sales tax exemption in Texas.
2. Organizations qualifying for specific exemptions, such as nonprofits or manufacturers.
3. Entities that frequently purchase items without paying sales tax for tax-exempt purposes.

Instructions and Help about TX Comptroller 05-158-A

If you don't have a Web file account view our how to create a Web file account video to learn how to sign up If you already have an account let's continue Welcome to the franchise tax no tax due information report video Before moving on with the rest of the form confirm you are eligible to file a no tax due information report 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 define din Chapter 171 of the Texas Tax Code Or your business is a real estate investment trust as specified in Section 1710002c4 of the Texas Tax Code So if you are eligible let's continue From our home page select the Web file button Enter your user ID and password and select login From the systems' menu select Web file pay taxes and fees Select the 11 digit taxpayer number next tithe franchise tax account you previously assigned If your account is not listed you'll need to add it to your profile Enter the 11 digit taxpayer number If you don't know your number go to our how to find your 11 digit taxpayer number video Select continue to add additional available taxes and fees Select file a no tax due information report and select continue Select the report year If you receive the error message no period of obligation contact the franchise tax section at 1-800-531-5441 Ext 34402 for more information about this error Select continue Now you can confirm your eligibility to file no tax due information report Gather the information you need to file the report and select continue Answer the questions by selecting yes or no and then select continue to Remember if there are any terms you don'ttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttunderstand you can click on help for definitions Enter your SIC and NAILS code If you don't have your SIC or NAILS code you may still continue to file your report Enter the accounting year beginning and end dates Respond to the qualification questions To qualify to file a no tax due report the answer to at least one of these questions must be yes Now enter the total revenue for your business for the accounting year you designated above and select continue On the current mailing address screen verify the information is correct and make any necessary updates Note that any updates you make will only update the franchise mailing address on file with the Comptroller's office Select continue On the public information report page update any incorrect information In the registered agent and office section select yes or no to designate whether you need forms to change the information Read the declaration statement and check on the box to confirm the information is accurate Select continue The franchise tax review report page allows you to review the data you've entered before...

People Also Ask about

How do I cancel my seller's permit in Texas?

To cancel a permit, the comptroller shall send a notice of the comptroller's intention to cancel the permit to the permit holder at the address shown on the permit. The notice must specify the date on which the comptroller intends to cancel the permit.

How do I close sales and use tax in Texas?

You can notify the Comptroller's office that you are closing your account by entering the information on the Close Business Location webpage and selecting “Close all outlets for this taxpayer number.”

How is Texas margin tax calculated?

The Texas franchise tax calculation is based on margin, which can be calculated using one of the following methods: Total revenue times 70% Total revenue minus cost of goods sold (COGS) Total revenue minus compensation.

What is the Texas franchise tax no tax due threshold?

Tax Rates, Thresholds and Deduction Limits ItemAmountNo Tax Due Threshold$1,000,000Tax Rate (retail or wholesale)0.5%Tax Rate (other than retail or wholesale)1.0%Compensation Deduction Limit$320,0002 more rows

How do I file a sales and use tax return in Texas?

0:25 7:16 How to File a Sales Tax Return Electronically as a List Filer [Official] YouTube Start of suggested clip End of suggested clip Select the 11 digit taxpayer number link next to the cells. And use tax account you previouslyMoreSelect the 11 digit taxpayer number link next to the cells. And use tax account you previously assigned if your account is not listed. You will need to add it to your profile.

What is Texas Form 05 158?

A franchise tax report supporting the amount of tax due (Form 05-158, Texas Franchise Tax Report (PDF), or Form 05-169, Texas Franchise Tax EZ Computation Report (PDF)) must be filed.

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What is TX Comptroller 05-158-A?

TX Comptroller 05-158-A is a form used in Texas for reporting specific financial information related to the state’s sales and use tax.

Who is required to file TX Comptroller 05-158-A?

Businesses that collect sales tax in Texas and meet certain criteria established by the Texas Comptroller's office are required to file TX Comptroller 05-158-A.

How to fill out TX Comptroller 05-158-A?

To fill out TX Comptroller 05-158-A, you must provide required business information, details about the sales transactions, and calculate the amount of sales tax collected.

What is the purpose of TX Comptroller 05-158-A?

The purpose of TX Comptroller 05-158-A is to ensure businesses accurately report and remit sales tax collected to the state of Texas.

What information must be reported on TX Comptroller 05-158-A?

TX Comptroller 05-158-A requires reporting of total sales, taxable sales, exemptions, amount of tax collected, and other relevant financial data.