Franchise tax texas how to file video one
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Published 2020-02-23
All Comments (6)
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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:).
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Thank u so much this vedio helped me alot
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Sir I am facing problem of ,no period obligations found for my taxpayer number? What does it meab
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Revenue $0 , why?
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In ever told us what website your on