The Texas Comptroller of Public Accounts (“Comptroller”) has released the final report forms and instructions needed to prepare annual reports under the revised Texas FranchiseTax, which are due on May 15, 2008. The 12 report forms, which are listed below, are available on the Comptroller’s Website:
Form 05-102, Texas Franchise Tax Public Information Report
Form 05-158-A, Texas Franchise Tax Report – Page 1
Form 05-158-B, Texas Franchise Tax Report – Page 2
Form 05-160, Credits Summary Schedule
Form 05-163, No Tax Due Information Report
Form 05-164, Extension Request
Form 05-165, Extension Affiliate List
Form 05-166, Affiliate Schedule
Form 05-169, E-Z Computation Report
Form 05-170, Payment Form
Form 05-175, Tiered Partnership Report
Form 05-392, Information and Instructions
Each taxpayer must obtain an access code for the Comptroller’s electronic system. Because each taxpayer form will have a unique 2-D barcode, taxpayers must access their forms in the system. Ultimately, taxpayers will have the following options for filing the 2008 Annual Report:
| (1) | Access the forms in the Comptroller’s system; complete the forms in the Comptroller’s system, and submit the completed forms through the Comptroller’s system. | |
| (2) | Access the forms in the Comptroller’s system; complete the forms in the Comptroller’s system; print the completed forms, and mail the completed forms. | |
| (3) | Access the forms in the Comptroller’s system; print the forms; complete the forms by hand, and mail the completed forms. |
Options 2 and 3 should be available later this month when the forms are made available on the Comptroller’s electronic system. However, the option to submit reports and payments electronically is not expected to be available until April 14, 2008.