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Tag: Tax Planning
Franchise-Tax Extensions: Form 05-164 Walk-Through
Franchise-Tax Extensions If you need extra time to prepare your Texas franchise-tax report, Form 05-164 gives you a six-month extension—from May 15 to November 15—to file. Note, however, that an extension does not extend your payment deadline. You must still remit at least 90 percent of your estimated tax liability by the original due date […]
Total Revenue vs. Cost-of-Goods: Picking the Best Texas Margin Method
Total Revenue vs. Cost-of-Goods Texas franchise tax is based on a business’s margin, but there are four distinct ways to calculate it. Choosing the method that minimizes your taxable margin can save you thousands. In this post, we’ll compare: Total Revenue × 70% Total Revenue − Cost-of-Goods Sold (COGS) Total Revenue − Compensation Total Revenue […]