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Professional Corporation Package for Texas Texas Form

Professional Corporation Package for Texas Texas Form

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[Music] hey there hope everybody's having a great day wanted to touch base briefly about the annual reports that are required to be filed with the state of Texas every May 15th and that's the due date that's approximately one month after income tax statements are due to the Internal Revenue Service and these reports are due to the state of Texas in order for a corporation form and operating in the state of Texas to keep its good standing with our taxing authority the Texas Comptroller so the first thing is a franchise tax report you've got to file that if you're conducting business in the state of Texas and if your gross revenue is above 1.1 million dollars give or take there's some you know 1.1 and change you're going to be required to pay the state of Texas a franchise tax for operating your business in this state now that now that 1 point 1 billion dollars maybe above and beyond what many small business owners are going to repo

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