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This worksheet is designed for taxing units other than school districts or water districts to calculate the no-new-revenue (NNR) tax rate and voter-approval tax rate as required by Texas Tax Code Section 26.04(c). It provides guidelines and a structured format to assess prior year taxable values, account for appeals, exemptions, and adjustments necessary for determining accurate tax rates for the following year.
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What is form 50-856?
Form 50-856 is a reporting form used in specific jurisdictions to collect information related to business activities and tax liabilities.
Who is required to file form 50-856?
Businesses operating in the jurisdiction that have gross receipts exceeding the established threshold are required to file form 50-856.
How to fill out form 50-856?
To fill out form 50-856, provide the necessary business information, including identification details, gross receipts, and any deductions, following the provided instructions carefully.
What is the purpose of form 50-856?
The purpose of form 50-856 is to ensure compliance with local tax laws by collecting relevant financial information from businesses.
What information must be reported on form 50-856?
The form requires reporting of business identification details, total gross receipts, deductions, and other relevant financial data.
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