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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 certain businesses in Texas.
Q: How is franchise tax calculated?
A: Franchise tax is calculated based on a business's taxable margin, which is determined by specific rules and formulas set by the Texas Comptroller's office.
Q: What is the taxable margin?
A: The taxable margin is the amount of a business's revenue minus certain deductions and exclusions.
Q: What is the tax rate for franchise tax?
A: The tax rate for franchise tax is 0.375% for most businesses and 0.75% for wholesalers and retailers.
Q: Are there any exemptions or deductions available?
A: Yes, there are certain exemptions and deductions available that can reduce a business's taxable margin and the amount of franchise tax owed.
Q: When is the franchise tax return due?
A: The franchise tax return is generally due on May 15th each year, with an extension available until November 15th for businesses that meet certain criteria.
Form Details:
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