Form with which a corporation may resolve to alter its corporate status top that of a subchapter (S) corporation.
Business Status With Irs In Travis
State:
Multi-State
County:
Travis
Control #:
US-0046-CR
Format:
Word;
Rich Text
Instant download
Description
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FAQ
Business Taxes in Texas While Texas state business income taxes do not exist, the state does levy a franchise tax, which is calculated on a company's margin for all entities with revenues above $1.23 million. The tax rate in 2022-23 is 0.375% for retail and wholesale businesses, and 0.75% for other businesses.
The Texas state sales and use tax rate is 6.25 percent, but local taxing jurisdictions (cities, counties, special-purpose districts and transit authorities) also may impose sales and use tax up to 2 percent for a total maximum combined rate of 8.25 percent.