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Franchise Tax Calculation - Texas
Franchise Tax Calculation is a legal document that was released by the Texas Comptroller of Public Accounts - a government authority operating within Texas.
FAQ
Q: What is franchise tax?
A: Franchise tax is a tax imposed on businesses or entities that are chartered or organized in Texas.
Q: How is franchise tax calculated?
A: Franchise tax is calculated based on the taxable margin or taxable entity's revenue.
Q: What is taxable margin?
A: Taxable margin is the amount of net taxable income a business has after subtracting certain deductions.
Q: What is the tax rate for franchise tax in Texas?
A: The tax rate for franchise tax in Texas is 1% for most entities.
Q: Are there any exemptions or deductions for franchise tax?
A: Yes, there are exemptions and deductions available, such as the no-tax-due threshold and the cost of goods sold deduction.
Q: When is the franchise tax due?
A: The franchise tax is generally due on May 15th every year.
Form Details:
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