Hi bro, ppl said LLC or C corp filing in TX is NOT 0% state income tax but based on total gross receipt, say about 0.75% if it exceeds $1,175,000. If total gross receipt (sales), say, is $2M to earn $200k (10% net profit margin), then use C corp (what about form LLC then CHOOSE to tax as C corp) to enjoy Trump's new tax law of 21% Fed flat-rate tax + local STATE income tax, then how do u figure this TX local state tax on this example? How about invest in R.E., how do u figure out C Corp franchise tax filing fee? IN CA, it's $800/yr + about 8.84% PROFIT from C corp. But seems TX state franchise tax charges MORE, in the above example of $3M in sales earn $200k profit doing c corp bizz, u getta pay $2M TOTAL GROSS RECEIPT (SALES) * 0.75%=$15k/yr vs CA (one of the most hated + taxed STATE LOL), he only pays $200k profit * 8.84% CA state c corp tax=$17,680/yr, IT'S ABOUT THE SAME amount of $, sometimes u getta pay more C CORP TAX IN TX because TX is tax u based on TOTAL GROSS RECEIPT (SALES) rather than % of PROFIT. I'm new to this TX C Corp franchise tax thing. TEXAS MAKES THIS VERY COMPLICATED, while most State is just flat % based on PROFIT. Washington, NV, WY is really 0% c corp tax. TX IS NOT 0% c corp tax (only personal income is 0% tax). Remember, only C CORP enjoys Trump's new tax law of 21% flat tax, all others cannot! Pls explain how do u figure out R.E. investors receive rental income or other retail business's TEXAS C CORP franchise tax. Thx:).
The automated system is very confusing, misleading, and not very user friendly with navigation. Even while on standby for a human, the automated system is requesting a button press followed by "please make your selection now" requests leading the user to possibly not realize theyre still on hold for a human. For example, there is no understandable route towards reaching a human for the "no obligation" error code as shown in the video.
They literally keep locking my dad's account... He types in the website number in the sales tax and use section and clicks assign but it doesn't work. The more you click assign to get to the next page it will then lock you out.
Hello, You may need to clear the cache/cookies… if that still doesn’t seem to work, please send us your contact info and taxpayer ID so we can have someone reach out to you and help you resolve this issue.
@@txcomptroller We ended up calling you all the next day and we found out the number on the paper sent to us was wrong. And that's why it kept locking us. Thank you!! I wish they had of said the number was wrong though instead of locking without a reason.
I am dreaming to form a LLC in USA since 2015 (almost five years) for a small website where I offer online services(graphic design, web design , hosting etc with a friend of mine) though I am not a US resident., I don't have a big budget $900 - $1500 to hire a professional company to form my LLC (those companies charge $99 - $125 to form a new company but when you select that you are a foreigner they add extra $1000+), even If I managed to find the initial cost I was so worried about renewal costs $399+ (What would happen if I failed to pay the renewal costs ,International lawsuit, take my personal property to cover the invoice or close the company? ) That refrained me from forming my business in USA. I have several questions in mind. Let's assume that I have registered my company in texas, 1.Is this the only thing that I have to do to stay compliant ? (I am a poor foreigner with a very minimum knowledge in this field), 2. Can I offer services to texas and other states and rest of the world online? ( How the tax threshold is calculated? Revenu only in Texas or USA or total sales including rest of the World? ) is there any hidden sales tax % percentage for online services ? 3.Can I be my own registered agent?(I am a non resident) or use a US mail forwarding service to forward any mail to my foreign address ? I hope someone can point me in the right direction Thank you in advance!
For the revenue section is it total revenue within the Texas state or Total Revenue nationwide/globally? In addition, are foreign entities registered for sales tax in Texas subject to Franchise Tax aswell? Thank you
![How to File a Sales Tax Return Electronically as a List Filer [Official]](http://i.ytimg.com/vi/oppNdAILcbc/mqdefault.jpg)
What are the accounting year begin/end dates?
Always the first date of the year (e.g. 01/01/23) and the end date is always the last day of the year (e.g. 12/31/23).
This must be very out dated, the button doesn't even lead to that screen and I can't find the button they say to press.
Thanks a lot. It saved me.
Hi bro, ppl said LLC or C corp filing in TX is NOT 0% state income tax but based on total gross receipt, say about 0.75% if it exceeds $1,175,000. If total gross receipt (sales), say, is $2M to earn $200k (10% net profit margin), then use C corp (what about form LLC then CHOOSE to tax as C corp) to enjoy Trump's new tax law of 21% Fed flat-rate tax + local STATE income tax, then how do u figure this TX local state tax on this example? How about invest in R.E., how do u figure out C Corp franchise tax filing fee? IN CA, it's $800/yr + about 8.84% PROFIT from C corp. But seems TX state franchise tax charges MORE, in the above example of $3M in sales earn $200k profit doing c corp bizz, u getta pay $2M TOTAL GROSS RECEIPT (SALES) * 0.75%=$15k/yr vs CA (one of the most hated + taxed STATE LOL), he only pays $200k profit * 8.84% CA state c corp tax=$17,680/yr, IT'S ABOUT THE SAME amount of $, sometimes u getta pay more C CORP TAX IN TX because TX is tax u based on TOTAL GROSS RECEIPT (SALES) rather than % of PROFIT. I'm new to this TX C Corp franchise tax thing. TEXAS MAKES THIS VERY COMPLICATED, while most State is just flat % based on PROFIT. Washington, NV, WY is really 0% c corp tax. TX IS NOT 0% c corp tax (only personal income is 0% tax). Remember, only C CORP enjoys Trump's new tax law of 21% flat tax, all others cannot! Pls explain how do u figure out R.E. investors receive rental income or other retail business's TEXAS C CORP franchise tax. Thx:).
NOTE: The NO TAX DUE threshold is One Million Dollars in annual revenue.
The automated system is very confusing, misleading, and not very user friendly with navigation. Even while on standby for a human, the automated system is requesting a button press followed by "please make your selection now" requests leading the user to possibly not realize theyre still on hold for a human. For example, there is no understandable route towards reaching a human for the "no obligation" error code as shown in the video.
I've found better luck with just emailing them at webfile.help@cpa.texas.gov
I filed return without NICS code. Now I need pay penalty for that?
Do I put my info or the company information
hi, do I have to have an EIN to file the no tax due reports? Thanks!
what do i do if i forgot to file?where can i file?
How do you find the NCIS code?
It will be immediately on top of your EIN in your 1040 Schedule C page 1.
www.census.gov/naics/reference_files_tools/2022_NAICS_Manual.pdf
They literally keep locking my dad's account...
He types in the website number in the sales tax and use section and clicks assign but it doesn't work. The more you click assign to get to the next page it will then lock you out.
Hello, You may need to clear the cache/cookies… if that still doesn’t seem to work, please send us your contact info and taxpayer ID so we can have someone reach out to you and help you resolve this issue.
@@txcomptroller We ended up calling you all the next day and we found out the number on the paper sent to us was wrong. And that's why it kept locking us.
Thank you!!
I wish they had of said the number was wrong though instead of locking without a reason.
I am dreaming to form a LLC in USA since 2015 (almost five years) for a small website where I offer online services(graphic design, web design , hosting etc with a friend of mine) though I am not a US resident., I don't have a big budget $900 - $1500 to hire a professional company to form my LLC (those companies charge $99 - $125 to form a new company but when you select that you are a foreigner they add extra $1000+), even If I managed to find the initial cost I was so worried about renewal costs $399+ (What would happen if I failed to pay the renewal costs ,International lawsuit, take my personal property to cover the invoice or close the company? ) That refrained me from forming my business in USA.
I have several questions in mind.
Let's assume that I have registered my company in texas,
1.Is this the only thing that I have to do to stay compliant ?
(I am a poor foreigner with a very minimum knowledge in this field),
2. Can I offer services to texas and other states and rest of the world online? ( How the tax threshold is calculated? Revenu only in Texas or USA or total sales including rest of the World? ) is there any hidden sales tax % percentage for online services ?
3.Can I be my own registered agent?(I am a non resident) or use a US mail forwarding service to forward any mail to my foreign address ?
I hope someone can point me in the right direction
Thank you in advance!
such strange EYE CONTACT!!!!!
For the revenue section is it total revenue within the Texas state or Total Revenue nationwide/globally? In addition, are foreign entities registered for sales tax in Texas subject to Franchise Tax aswell?
Thank you