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 Texas Form 05 164 2016

Tx 05 164 2016-2025 Form

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What is the Texas Form 05 164

The Texas Form 05 164 is a crucial document used for requesting an extension for filing the Texas franchise tax report. This form is specifically designed for businesses that need additional time to prepare and submit their annual franchise tax reports. By submitting the Form 05 164, taxpayers can avoid penalties associated with late filings while ensuring compliance with Texas state tax regulations.

How to use the Texas Form 05 164

To effectively use the Texas Form 05 164, businesses must first gather the necessary information required for the form. This includes details about the business entity, such as its name, address, and taxpayer identification number. Once the form is completed, it should be submitted to the Texas Comptroller of Public Accounts by the due date to secure an extension. It is important to note that this form does not extend the payment deadline for any taxes owed.

Steps to complete the Texas Form 05 164

Completing the Texas Form 05 164 involves several straightforward steps:

  • Begin by entering the legal name of the business and its taxpayer identification number.
  • Provide the business address and contact information.
  • Indicate the type of business entity, such as a corporation or limited liability company.
  • Specify the reason for requesting the extension, if applicable.
  • Sign and date the form to certify its accuracy.

After filling out the form, review all entries for accuracy before submission.

Filing Deadlines / Important Dates

The filing deadline for the Texas Form 05 164 typically aligns with the due date of the annual franchise tax report. Businesses should be aware that the extension request must be submitted before the original due date of the report. For most entities, this date falls on May 15 each year. It is essential to keep track of these deadlines to avoid penalties and ensure timely compliance.

Form Submission Methods

The Texas Form 05 164 can be submitted through various methods to accommodate different preferences:

  • Online: Businesses can complete and submit the form electronically through the Texas Comptroller's website.
  • Mail: The completed form can be printed and mailed to the appropriate address provided by the Texas Comptroller.
  • In-Person: Taxpayers may also choose to deliver the form in person at designated Comptroller offices.

Regardless of the submission method, it is advisable to retain a copy of the submitted form for record-keeping purposes.

Penalties for Non-Compliance

Failing to submit the Texas Form 05 164 by the deadline can result in significant penalties. Businesses that do not file their franchise tax reports on time may incur late fees and interest on any taxes owed. Additionally, the Texas Comptroller may take further action, such as suspending the business's right to operate in the state. Therefore, it is crucial to adhere to filing requirements and deadlines to maintain compliance and avoid financial repercussions.

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