Tx 05 164 2021-2025 Form

What is the Form 05 164?

The Form 05 164 is a Texas franchise tax extension request used by businesses to apply for an extension on their franchise tax filing. This form allows entities to extend the deadline for submitting their annual franchise tax reports, providing additional time to prepare the necessary documentation. It is essential for businesses that need extra time to ensure compliance with Texas tax regulations.

Steps to Complete the Form 05 164

Completing the Form 05 164 involves several key steps:

1. Download the form from the Texas Comptroller's website or obtain it through your tax professional.
2. Fill in your business information, including the legal name, address, and taxpayer identification number.
3. Indicate the reason for the extension request, ensuring it aligns with acceptable criteria.
4. Sign and date the form, certifying that the information provided is accurate.
5. Submit the completed form by the original due date of your franchise tax report.

Legal Use of the Form 05 164

The Form 05 164 is legally recognized as a valid request for an extension under Texas law. To ensure its acceptance, it is important to follow all filing guidelines and deadlines. The form must be submitted to the Texas Comptroller's office, and any failure to comply with the regulations may result in penalties. Utilizing a reliable eSignature solution can further enhance the legal standing of your submission by ensuring proper authentication and compliance with eSignature laws.

Filing Deadlines / Important Dates

Understanding the filing deadlines for the Form 05 164 is crucial for compliance. Typically, the form must be submitted by the original due date of your franchise tax report. For most businesses, this date falls on May 15 of each year. If May 15 falls on a weekend or holiday, the deadline is extended to the next business day. It is advisable to keep track of these dates to avoid any penalties associated with late submissions.

Form Submission Methods

The Form 05 164 can be submitted through various methods to accommodate different business needs:

• Online: Submit electronically through the Texas Comptroller's online portal.
• Mail: Send a paper copy of the completed form to the designated address provided by the Texas Comptroller.
• In-Person: Deliver the form directly to a local Comptroller office for immediate processing.

Required Documents

When submitting the Form 05 164, it is important to have the following documents ready:

• Your business's taxpayer identification number.
• Previous year's franchise tax report, if applicable.
• Any supporting documentation that justifies the need for an extension.

Penalties for Non-Compliance

Failure to submit the Form 05 164 by the deadline can result in significant penalties. Businesses may face fines, interest on unpaid taxes, and potential legal action from the state. It is essential to adhere to all filing requirements to avoid these consequences and maintain good standing with the Texas Comptroller's office.