2024 Reporting Changes
This Senate bill increased the no tax due threshold and eliminated reporting requirements for certain entities.
What is Senate Bill 3
This is the first form mailed to taxpayers to inform them their account is not current.
What is a Texas Notice of Intent to Forfeit Right to Transact Business?
These entities must satisfy all state tax filing requirements before they can terminate, merge or convert a business.
What are both Texas-formed and out of state entities registered with the Texas Secretary of State (SOS).
Passing of SB3 Legislation eliminated this Report for taxable entities whose annualized total revenue is at or below the no tax due threshold the 2024 report year and beyond.
What is form 05-163 No Tax Due Report
This is the term used when an entity loses their Charter with the Secretary of State.
What is a Charter forfeiture?
These type of entities must file either the EZ Computation Report or the Long Form and blacken the appropriate circle in the taxpayer information section at the top of the form to indicate they are not required to report financial information.
What is a Qualifying passive entities and/or REITs
This is the phrase used to inform the entity they are not current with the Comptroller's reporting requirement.
What is the Forfeiture of Right to Transact Business?
A taxable entity with zero Texas gross receipts must file on of these forms.
What is a EZ Computation Report or the Long Form.
This period is the prior year's financial period for the period before the report year due date.
What is the "accounting period" for the 2025 EZ computation or the Long form.
There were _____ (how many) types of entities eligible to file a No Tax Due Report for reports originally due on or before Jan. 1, 2024.
What is five types of entities eligible to file a No Tax Due Report.
Form 377 is filed with the Secretary of state along with applicable forms and SOS fees as the final step to this process.
What is reinstating a forfeited charter.