Texas Comptroller of Public Accounts

Texas Comptroller of Public Accounts, Glenn Hegar

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News Release from Comptroller Susan Combs

Contact: Allen Spelce
R.J. DeSilva
(512) 463-4070

For Immediate Release
April 3, 2008

Comptroller Announces Dallas and Houston Franchise Tax Seminars

(AUSTIN) — The state Comptroller’s office will host two free seminars, in Dallas April 23 and in Houston April 30, to inform franchise taxpayers about the Legislature’s revisions to the tax.

“May 15 is the first statewide franchise tax due date since these changes took effect,” Texas Comptroller Susan Combs said. “We are continuing our outreach efforts to ensure taxpayers are familiar with the new margin calculation and that the filing process works smoothly and easily for them.”

The Dallas seminar on April 23 will take place on the Southern Methodist University campus, in the Hughes-Trigg Student Center Theater, located at 3140 Dyer St.

The University of Houston is the site for the April 30 Houston seminar. The seminar will take place in the Conrad Hilton Ballroom of the Hilton University of Houston Hotel, located at 4800 Calhoun St.

Both seminars are scheduled from 9 a.m. to 4 p.m. and will be taught by the agency’s franchise tax experts who will also be available to answer questions. The morning sessions will consist of an overview presentation about the new margin calculation, along with detailed explanations about entities subject to the tax; the revised tax base; tax rates; EZ computation; discounts; no tax due qualifications; determining total revenue and exclusions from revenue; cost of goods sold deductions; compensation deductions; gross receipts and apportionment; combined reporting; business loss credit; and new administrative rules. The afternoon sessions of the seminars will concentrate on how to complete franchise tax reporting forms.

For complete information about the seminars, visit the Comptroller’s Web site at http://www.window.state.tx.us/taxinfo/franchise/ft_tour_0408.html. Advance reservations are required. To reserve a seat at the Dallas seminar, send an e-mail to rsvp.dallas@cpa.state.tx.us. The e-mail address to reserve a seat at the Houston seminar is rsvp.houston@cpa.state.tx.us

During the last year, agency experts have spoken at industry conferences and to taxpayers groups, hosted 10 taxpayer seminars throughout Texas and conducted a dozen Webinars to inform taxpayers about changes to the franchise tax. The Texas Legislature revised the tax by changing the tax base and the tax rate and extending coverage to most legal entities. About 200,000 new entities will have to file franchise tax reports for the first time this year.

Forms to report the revised Texas franchise tax based on the new margin calculation are now available online at www.window.state.tx.us/taxinfo/taxforms/05-forms.html.

Answers to franchise tax questions can be found at www.window.state.tx.us/taxinfo/franchise/ or by calling (800) 252-1381.


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