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Does this entity have zero Texas gross receipts? Select Yes when the entity has zero Texas gross receipts. See Form 05-158 instructions for more information .
Taxable Entities with Zero Texas Gross Receipts. A taxable entity with zero Texas gross receipts must: File either the EZ Computation Report or the Long Form. Complete specific line items on the form to compute the entity’s total revenue. Report zero on the Texas gross receipts line.
zero Texas Gross Receipts would mean that NO gross income was received (revenue, irrespective of expenses and eventual profit) ...
For reports originally due on or after Jan. 1, 2024, a taxable entity with zero Texas gross receipts, a passive entity as defined in Texas Tax Code Section 171.0003 and a Real Estate Investment Trust meeting the qualifications specified in Texas Tax Code Section 171.0002(c)(4) may file the E-Z Computation report to confirm their qualification ...
Taxable entities with zero Texas gross receipts must file either the Long Form Report or the EZ Computation Report to enter total revenue and Texas gross receipts only. Implications. Entities subject to Texas franchise tax should review the revised filing requirements and determine which forms they must file. * * * * * * * * * *
24 wrz 2024 · Or, if your Texas LLC made $0, you can select “yes” for the “Does this entity have zero Texas Gross Receipts” question. Note: If you formed a 100% veteran-owned Texas LLC , and your LLC is in the Comptroller’s system, you don’t have to complete the Public Information Report portion.
7 lis 2023 · Taxable entities with zero Texas gross receipts must file either a long form or EZ Computation form and complete specific line items on the form to compute the entity’s total revenue and report zero on the Texas gross receipts line. Entities with zero Texas gross receipts must continue to file a PIR or OIR.
