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 05 163 Texas  Form 2015

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Texas franchise tax law states that the controller of Public Accounts shall forfeit the corporate privileges of a corporation in some situations this can result from the owner not filing tax forms within 45 days after the date notice of forfeiture is mailed this can result from the owner not paying the tax within 45 days after the date notice of forfeiture is mailed this can also result from the owner not permitting the controller to examine the corporation's records this statute Works hand in hand with the Texas business organization's code the business code says that a terminated entity may not be reinstated if the termination occurred as a result of forfeiture under the tax code these rules Force the business owner to file and pay Texas Franchise Tax they also prevent The Entity from being reinstated unless the taxes are filed and paid once the entity is forfeited there are several consequences the tax code sets out several of these consequences it says that the corp

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