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Discounts, Penalties, Interest and Refunds Permitted sales taxpayers can claim a discount of 0.5 percent of the amount of tax timely reported and paid. Sales taxpayers who prepay can claim 0.5 percent for timely filing and paying, plus 1.25 percent for prepaying.
The prepayment report and tax prepayment for a quarterly filer are due on or before the 15th day of the second month of each quarter. For example, for the first quarter return filing period that is due on April 20, the prepayment report and tax prepayment are due on Feb. 15.
To be exempt from withholding, both of the following must be true: You owed no federal income tax in the prior tax year, and. You expect to owe no federal income tax in the current tax year.
How do we apply for an exemption? To apply for franchise and sales tax exemptions, complete and submit Form AP-204, Texas Application for Exemption ? Federal and All Others (PDF) to the Comptroller's office. Include a copy of the IRS-issued exemption determination letter with any addenda.
Texas offers a variety of partial or total (absolute) exemp- tions from property appraised values used to determine local property taxes. A partial exemption removes a percentage or a fixed dollar amount of a property?s value from taxation. A total (absolute) exemption excludes the entire property from taxation.
Some customers are exempt from paying sales tax under Texas law. Examples include government agencies, some nonprofit organizations, and merchants purchasing goods for resale. Sellers are required to collect a valid exemption or resale certificate from buyers to validate each exempt transaction.
Common Texas sales tax exemptions include those for necessities of life, including most food and health-related items. In addition, goods for resale, such as wholesale items, are exempt from sales tax, as well as newspapers, containers, previously taxed items, and certain goods used for manufacturing.
Make a Payment ? Payments and prepayments can be submitted via the Webfile system for the current report period without filing a report. You can also submit a payment for a period with an open liability. Make a Prepayment: This will allow you to make a prepayment.