Form with which a corporation may resolve to alter its corporate status top that of a subchapter (S) corporation.
Business Status Forfeited In San Antonio
State:
Multi-State
City:
San Antonio
Control #:
US-0046-CR
Format:
Word;
Rich Text
Instant download
Description
Free preview
Form popularity
FAQ
If the right to transact business is forfeited, the entity will be denied the right to sue or defend itself in a Texas court and each director or officer will be liable for the debt of the entity.
An entity forfeited under the Tax Code can reinstate at any time (so long as the entity would otherwise continue to exist) by (1) filing the required franchise tax report, (2) paying all franchise taxes, penalties, and interest, and (3) filing an application for reinstatement (Form 801 Word 178kb, PDF 87kb), ...
Right to transact business in Texas indicates an entity's franchise tax account status. If Right to Transact Business is... Then... Active. The entity's right to transact business in Texas is intact.
Let's start by checking your LLC status. Go to the Texas Taxable Entity Search linked here: . You will then enter the name of your LLC in the search. Select the “details” button when your LLC search result appears. Check that the “Right to Transact Business in Texas” is ACTIVE.
To qualify as a passive entity, the entity must be a partnership or trust, other than a business trust, for the entire accounting period on which the tax is based. The entity may not qualify as passive for the accounting period during which the conversion occurs even if it meets the 90 percent income test.
Let's start by checking your LLC status. Go to the Texas Taxable Entity Search linked here: . You will then enter the name of your LLC in the search. Select the “details” button when your LLC search result appears. Check that the “Right to Transact Business in Texas” is ACTIVE.
