Exemption Statement
Understanding this form
The Exemption Statement is a legal document used by franchisors to claim an exemption under Vernon's Texas Civil Statutes Article 5069-16.06(f). This form is crucial for franchisors looking to affirm their compliance with Texas law in situations where certain exemptions apply, setting it apart from standard franchise agreements that may not contain exemption provisions.
Key parts of this document
- Name of franchisor: Enter the official name of the franchisor claiming the exemption.
- Franchisor's business name: Specify the name under which the franchisor intends to operate.
- Franchisor's address: Provide the principal business address of the franchisor.
- Signed by signing officer: Include the name and title of the officer signing the document, along with the date signed.
Situations where this form applies
This form should be used by franchisors when they are seeking to claim an exemption from certain legal requirements as specified in Texas law. Situations that may necessitate the use of the Exemption Statement include launching a new franchise or providing disclosure documents where exemptions apply.
Who this form is for
- Franchisors looking to operate in Texas and qualify for exemptions.
- Franchise attorneys advising clients on compliance with Texas state laws.
- Business owners establishing franchise operations within the state.
Instructions for completing this form
- Identify the franchisor's name and enter it in the designated field.
- Specify the franchisor's business name as intended for operations.
- Provide the franchisor's principal business address.
- Have the appropriate signing officer complete the signature section, filling in their title and date of signing.
Is notarization required?
This form does not typically require notarization to be legally valid. However, some jurisdictions or document types may still require it. US Legal Forms provides secure online notarization powered by Notarize, available 24/7 for added convenience.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Mistakes to watch out for
- Failing to provide accurate information about the franchisor's name or business name.
- Omitting the franchisor's principal business address.
- Not having the document signed by an authorized officer.
Why complete this form online
- Convenience of downloading and completing the form at your own pace.
- Editability allows for quick corrections to be made before finalizing the form.
- Access to professionally drafted templates ensures legal compliance.
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FAQ
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 companies are exempt from paying state and local sales and use tax on electricity and natural gas used in manufacturing, processing, or fabricating tangible personal property.
You can now electronically file your residential homestead exemption online utilizing the HCAD Mobile App. To submit the homestead application utilizing the mobile app, you will need 4 items.
An insurance organization, title insurance company, or title insurance agent authorized to engage in insurance business in Texas now required to pay an annual tax under Chapter 4 or 9, Insurance Code, measured by its gross premium receipts, is exempt from franchise tax.
What qualifies as ag exemption in Texas? Only land that is primarily being used and has been used for at least five of the past seven years for agricultural purposes may qualify for an ag exemption in Texas. Agricultural purposes include crop production, livestock, beekeeping, and similar activities.
Who qualifies for tax-exempt status?Some common examples of organizations that may qualify for tax-exempt status include child care, churches and religious, and social welfare organizations. Operating as one of the above organizations does not mean you are tax exempt. You must apply through the IRS for tax exemption.
Certificates of no tax due are issued by the Texas Comptroller. You can submit a request on paper, by fax, or by email. The seller of the business must authorize the request. That means that if you're trying to buy a business, you'll need the cooperation of the current owner to get a certificate.
An individual can give Form 01-339, Texas Sales and Use Tax Exemption Certification (PDF), to the seller instead of paying sales tax when buying items to be directly donated to the following exempt organizations: religious, charitable, educational, nonprofits exempt under IRC Sections 501(c)(3), (4), (8), (10) or (19),
