Texas Tax Filling
Filing Your Texas State Taxes
It is tax season again! Figuring out and filing your tax forms can be intimidating – but there is help. Here you will find answers, forms and more that will make your paperwork easier, faster and less stressful. The information below will help you determine your residency status, find the correct forms you need and give you other information you want to get started.
State income tax returns for 2012 are due April 15.
Comparing Your Options in Online Tax Software
TurboTax and H&R Block are the most prominent online tax software providers for those who do their own taxes. All are appropriate for many types of personal and business tax preparation. They differ in pricing and each has its own positives and negatives. So check them out, compare and read the reviews to pick the one that’s best for you.
TurboTax offers FREE Texas State tax filing services. Click on the provider to find out if you qualify.
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Texas Tax Forms
- No Tax Forms for this State yet. Please check back later, we are permanently updating.
Taxes in Texas
When Texas wrote their state constitution, they knew, even then that Texans wouldn’t need a state income tax to become “the great State of Texas”. How do they keep that title though? For one, they don’t spend a lot. Texas ranks 50th in the nation in per capita spending.
Texas may not charge you income taxes, but that doesn’t mean you don’t pay them. Texas is known for having one of the highest property tax rates and sales taxes in the nation. Texas also makes a good portion of revenue from oil drilling that keep the state coffers nice and full. Although Texas doesn’t charge personal income taxes, you may have to pay taxes if you own a business.
Texas Franchise Tax
Partnerships (limited and limited liability as well as general), joint ventures, corporations, LLCs, professional associations, business trusts, business associations and other legal entities are subject to the Texas franchise tax.
Businesses that are not required to pay the franchise tax include sole proprietorships, (unless it is an LLC filing as a sole proprietor on the federal income tax return), general partnerships owned directly and solely by natural persons (unless it is a limited liability partnership), entities that are exempt in accordance with Subchapter B of Chapter 171 and passive entities.
To find out more about the Texas franchise tax, go to the Texas Comptroller of Public Accountant website.