Gain an understanding on how to apportion margin to Texas and identify various reporting options.
The Texas Franchise (Margin) Tax has evolved over time. Recent changes in economic nexus and expanded physical presence by global businesses have expanded the reach of the Texas franchise tax to additional entities, resulting in expanded filing requirements. This topic will help business owners and advisors to identify which businesses are subject to reporting requirements and to evaluate, at a high level, the various reporting options. The material also explains the method for tracking costs necessary for calculating cost of goods sold and compensation, and apportioning revenues. These aspects of the franchise (margin) tax have been affected by recent case law. Failing to comply with franchise tax filing and payment requirements can have serious consequences, including franchise tax forfeiture and individual liability for officers and directors. Learn what you and your clients need to be doing now to prevent problems in the future.
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Why Lorman?
Over 36 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
The Texas Franchise (Margin) Tax
- What Is Doing Business?
- Reporting Requirements and Options
- Franchise Tax Forfeiture
An Overview of Margin
- Revenues
- Cost of Goods Sold
- Compensation
Apportionment, Tax Rates, and Credits
- Texas Gross Receipts
- Retailers and Wholesalers
- Credits and Exemptions
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Why Lorman?
Over 36 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on September 15, 2020.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 36 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Christina A. Mondrik, Esq., CPA
Mondrik & Associates
- Founder of Mondrik & Associates, www.mondriklaw.com
- Board certified, tax law, Texas Board of Legal Specialization
- Represents taxpayers in resolving state and federal tax controversies and litigation
- 2019 - 2020 chair, Tax Section, State Bar of Texas
- J.D. degree, with honors, University of Texas School of Law; B.B.A. degree, accounting, University of Texas
- Can be contacted at 512-542-9300 or [email protected]
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Why Lorman?
Over 36 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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