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Tag: Franchise Tax Compliance
$50 “Late Report” Fine: How to Abate It With One Letter
$50 “Late Report” Fine If you’ve filed your Texas franchise-tax report late—even if no tax is due—you automatically incur a $50 late-filing fee per report. Fortunately, Texas law allows you to request a waiver of that flat fee (and any related interest or penalties) with a single letter or form. In this post, we’ll explain […]
0.375 % vs 0.75 %: Which Texas Franchise-Tax Rate Applies to You?
Introduction Texas imposes two different franchise-tax rates—0.375 % and 0.75 %—depending on whether your business is primarily engaged in retail or wholesale trade. Getting the rate wrong can lead to under-payment penalties or over-paying unnecessarily. This guide will help you determine which rate applies, illustrate with examples, and walk you through how to report the […]