TX Comptroller 05-158-A 2021 free printable template

RESET FORM 05158A (Rev.916/9)PRINT FORM Texas Franchise Tax Report Page 1 FILING REQUIREMENTSTcode 13250 Annual Taxpayer underreport year2 0 2Due date105/17/2021Taxpayer name Secretary of State file

How to fill out TX Comptroller 05-158-A

How to fill out TX Comptroller 05-158-A

1. Obtain Form 05-158-A from the Texas Comptroller's website or your local tax office.
2. Begin by filling out your business name and address in the designated fields.
3. Enter your Texas taxpayer number in the appropriate box.
4. Indicate the type of business entity by checking the relevant box (e.g., corporation, LLC).
5. Provide the total amount of sales and the exemption amount to be claimed.
6. Include any supporting documents required for the exemption.
7. Review all filled information for accuracy.
8. Sign and date the form at the bottom.
9. Submit the completed form to the address provided in the form's instructions.

Who needs TX Comptroller 05-158-A?

1. Businesses in Texas seeking an exemption from state sales and use tax need to fill out TX Comptroller 05-158-A.
2. Individuals or entities claiming specific exemptions must complete this form.

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 Form 05-158-A is a Texas state tax form used for reporting certain information related to franchise taxes and other business-related assessments.

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

Entities that are subject to franchise tax in Texas, including corporations and limited liability companies, 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, taxpayers need to provide their business identification number, report income, expenses, and other relevant financial data as instructed on the form. Detailed instructions are typically included with the form.

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

The purpose of TX Comptroller 05-158-A is to collect necessary financial information from businesses for assessing franchise tax liability and compliance with state tax regulations.

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

Information that must be reported on TX Comptroller 05-158-A includes the entity's name, address, identification number, gross revenue, deductions, and any applicable taxes due.