If you need to find your taxpayer number, you can find it by searching the Texas Comptroller A comptroller is a management level position responsible for supervising the quality of accounting and financial reporting of an organization. A financial comptroller is a senior-level executive who acts as the head of accounting, and oversees the preparation of financial reports, such as balance sheets and income statements.Comptroller
Full Answer
How to check if a franchise is active in Texas?
How can I check my business’s Texas Franchise Tax status? You can check on the Texas Franchise Tax account status of your company (or another company) by conducting an online Taxable Entity Search on the Comptroller’s website. To search for a business, enter its name, 11-digit Texas taxpayer ID number, 9-digit Federal Employer Identification Number (FEIN) or Texas SOS file number. Once you locate the business you’re looking for, click on the blue “Details” button to the left of the business name. Under the “Franchise Search Results” tab, you’ll see an item called “Right to Transact Business in Texas.” If the right to transact business is “Active,” then the entity is still entitled to conduct business in Texas.
How often do you need to file a franchise tax return in Texas?
But whether or not tax is owed, you’ll need to file a Texas Franchise Tax Report every year to keep your business in good standing.
What is a webfile number?
Your WebFile number.This number, which begins with “FQ,” is the temporary access code that allows you to create a WebFile account. After you log in to the system for the first time and complete your franchise tax questionnaire (addressed in the next step), you’ll receive a permanent WebFile number beginning with “XT” for your franchise tax account.
What does independent Texas do?
When you hire Independent Texas to form your Texas company or serve as your registered agent, we keep your state correspondence organized, send you multiple reminders ahead of the franchise tax due date, and provide affordable franchise report filing service.
What is franchise tax in Texas?
The Texas Franchise Tax is an annual business privilege tax processed by the Texas Comptroller of Public Accounts. Essentially, it’s a tax levied on business owners in exchange for the opportunity to do business in Texas. Here's what you should know about it.
What happens if you don't get your franchise tax report in Texas?
If the Comptroller’s office does not receive your franchise tax report (and payment, if you owe one) within 45 days of the deadline, they are required by law to forfeit your business’s right to transact business in Texas. This forfeiture is essentially a loss of corporate liability protection: business owners will become liable for the debts of the business, and the entity will not be permitted to defend itself in a court of law.
How to calculate annualized revenue?
To find annualized revenue, divide your business’s total revenue by the number of days since it became subject to the franchise tax, then multiply the result by 365.
Where is the webfile number?
It is printed in the upper left corner of the tax report we mail to each taxpayer and on most notices. It is two letters followed by six numbers (Example: RT666666). If you do not have your Webfile number, you can contact us at ( 800) 442-3453 24 hours a day, 7 days a week.
Does Texas have to file franchise tax?
A Texas entity must file and pay its final franchise tax report in the year it plans to terminate, merge or withdraw with the Texas Secretary of State’s office. comptroller.texas.gov Texas: Does my WebFile number begin with RT or XT?
Reporting Change For Passive Entities
- Effective for franchise tax reports originally due on or after Jan. 1, 2011, a passive entity that is registered (or required to be registered) with either the Texas Secretary of State or the Comptroller’s office must file Form 05-163 to affirm that the entity qualifies as passive for the period upon which the tax is based. Form 05-163 is available on our Franchise Tax Forms page.
Franchise Tax Accountability Questionnaires – New Online Version
- This questionnaire must be completed by any Texas or out-of-state entity who recently registered with the Secretary of State or established a franchise tax account with this office. Learn more about our new online version of the questionnaire.
Get Account Status/Texas Taxpayer ID Number
- Check current franchise tax account standing, view and print a certificate of account status (good standing) or look up a Texas franchise taxpayer ID number. Any entity’s account status that is in “temporary good standing” will be updated when the franchise tax report is processed to the account. Learn more about Certification of Account Status.
Tax Assistance and Customer Service Response Times
- We are committed to responding to calls and e-mails as quickly as possible. See our call tips and peak schedulefor details on factors that may impact response times.
Additional Support
- Submit an e-mailto our experienced tax professionals .
- Find a Comptroller field officenear you.