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Form 1065-B Texas: What You Should Know

The form requires that each partnership member pay a filing fee of 450 and files a single return for both partners, even though the partners may have separate income, expenses and deductions. For tax year 2017, this fee is 225 (350 if you are filing as sole proprietor or partner) for individuals and 450 (750 if you are filing as a partner.) For partnership returns filed after January 1, 2019, the fee is 575 (1,050 if you are a partner filing a joint return), regardless of whether either partner had partner deductions. Texas Franchise Tax Forms and Related Information Tax Schedule Form. Each taxable entity must file a Texas Schedule B-2 (Form 1065) or Schedule C (Form 1065) with their respective franchise tax returns. The Schedule B-2 should include all information required on the Schedule B as well as other information requested by the Comptroller. What to Do After Your Franchise Tax Return Has Been Filed or Delinquent Franchise Tax Return (Form 1065). If your Franchise Tax Form has been delinquent due to a nonpayment by the due date (for example, December 31st for the tax year of Jan 1st), your Taxpayer's Notice must contain the following information: The last 4 months of income and expenses on which you made deductions. For businesses that did not pay sales tax (or were not required to pay a sales tax on certain taxable sales in Texas, see below), include the amounts of sales tax paid and receipts for sales, including invoices, from the date you became an active business. For businesses that needed to send tax information for returns that were not filed by the due date, file the Forms W-2 and/or Form 1099 showing the amount of sales tax withheld (taxable and non-taxable), and send those in the original (not amended) envelope. Example: If the Due Date is after Dec 31st, you must file Form 1040X, U.S. Employer's Tax Return for Texas, even if you paid your taxes on time (see Refund of Tax). If your Franchise Tax Information return has been delinquent, you also will need to notify the Texas Comptroller of Public Accounts (TCA) of the nature of the over 500 in delinquent interest owed by the due date for the tax year.

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