TX Comptroller 05-102 2015 free printable template

RESET FORM 05-102 Rev.9-15/33 PRINT FORM Texas Franchise Tax Public Information Report To be filed by Corporations Limited Liability Companies LLC Limited Partnerships LP Professional Associations PA and Financial Institutions Tcode 13196 Franchise Report year Taxpayer number You have certain rights under Chapter 552 and 559 Government Code to review request and correct information Blacken circle if the mailing address has changed. Mailing address City State ZIP code plus 4 1000000000015...

How to fill out TX Comptroller 05-102

How to fill out TX Comptroller 05-102

1. Download the TX Comptroller 05-102 form from the official website.
2. Fill in your business name and address at the top of the form.
3. Enter your Texas Taxpayer Number in the designated box.
4. Provide details of the period for which you are reporting.
5. List all relevant sales or use tax information as required in the various sections.
6. Calculate the total tax due by following the instructions in the form.
7. Review the completed form for accuracy before submission.
8. Submit the form via mail or electronically as per the guidelines provided.

Who needs TX Comptroller 05-102?

1. Businesses operating in Texas that are required to report sales and use tax.
2. Tax professionals managing compliance for clients in Texas.
3. Any entity seeking to claim exemptions or special considerations regarding sales and use tax.

• Who needs a 05-102 form?
• What is the 05-102 form for?
• What documents must accompany the 05-102 form?
• When is the 05-102 form due?
• • What information should be provided in the 05-102 form?
  • What do I do with the form after its completion?

Who needs a 05-102 form?

This form is used by corporations, LCS, limited partnerships, professional associations, financial institutions and other business entities registered in Texas that are subject to franchise tax. The entities mentioned above must file the form to satisfy their tax obligations.

What is the 05-102 form for?

This form serves as a Texas Franchise Tax Public Information Report. The report is forwarded to the Secretary of State. The information provided is available on the Comptroller’s Franchise Account Status website so that anybody can see the required data of the business entity.

What documents must accompany the 05-102 form?

The report is accompanied by a franchise tax report and other tax forms if required.

When is the 05-102 form due?

This form is due on the date the franchise tax report is due. It won’t take long to fill out the report.

What information should be provided in the 05-102 form?

The report is completed by an officer, director or other authorized person of the business entity.

While completing the form, the filler must provide the following information:

• Taxpayer number
• Report year
• Taxpayer name, mailing address
• Principal office of the business entity
• Principal place of business
• Name, title and mailing address of each officer, director, member, general partner or manager (with the expiration date)
• Name of owned (subsidiary) corporation or financial institution in which the business entity owns an interest of 10% or more (including the state of formation, Texas SOS file number,
• Name of each corporation, LLC, LP, etc. that owns an interest of 10 % or more in your business entity (including state of formation, Texas SOS file number, percentage of ownership)

The filler also has to sign, date the report and type the phone number.

What do I do with the form after its completion?

The completed and signed form is forwarded to the Secretary of the State.

People Also Ask about

What happens if you don't file franchise tax in Texas?

Penalties and Interest A $50 penalty is assessed on each report filed after the due date. If tax is paid 1-30 days after the due date, a 5 percent penalty is assessed. If tax is paid over 30 days after the due date, a 10 percent penalty is assessed.

What is the no tax due report threshold for Texas franchise tax?

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

Can Texas Form 05-102 be electronically filed?

No, Form 05-102 can only be e-filed as part of the Texas Franchise Tax return. If separate filing is desired, the form must be paper filed with the taxing authority.

What is Texas Form 05-102 for?

Form 05-102 - Texas Franchise Tax Public Information Report — Each corporation, LLC, limited partnership, professional association, and financial institution that has a franchise tax responsibility must file a Public Information Report (PIR) to satisfy their filing obligation.

Do I have to file Texas franchise tax?

Each taxable entity formed in Texas or doing business in Texas must file and pay franchise tax.

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What is TX Comptroller 05-102?

TX Comptroller 05-102 is a form used by certain taxpayers in Texas to report and remit payments for Texas franchise tax.

Who is required to file TX Comptroller 05-102?

Entities that are subject to Texas franchise tax and have made income or revenue during the tax period are required to file TX Comptroller 05-102.

How to fill out TX Comptroller 05-102?

To fill out TX Comptroller 05-102, taxpayers must provide their entity information, report their revenue, and calculate the amount of tax owed, following the instructions provided with the form.

What is the purpose of TX Comptroller 05-102?

The purpose of TX Comptroller 05-102 is to facilitate the reporting and payment of franchise taxes owed by businesses operating in Texas.

What information must be reported on TX Comptroller 05-102?

The information that must be reported on TX Comptroller 05-102 includes the legal name of the entity, the tax period, gross revenue, deductions, and the calculated franchise tax amount.