Austin Business CPA AlternativeTwo filings the federal return does not carry

They split, and neither one is in the federal envelope

Texans know the interstate that divides north of Hillsboro into an east leg and a west leg. The franchise report and the rendition divide the same way. One is a privilege tax computed from revenue and compensation. Beside it sits the business-property inventory the appraisal district wants from the company. Closing the federal return does not file either of them. Missing either date is how a spring notice arrives after the federal return already felt finished.

The franchise report is due on May 15 for the entities that must file. The no-tax-due threshold we are using is 2,650,000 dollars. Rates are 0.375 percent for retail or wholesale and 0.75 percent otherwise, with a compensation deduction limit of 480,000 dollars. An entity under the 20 million dollar EZ revenue line may use the 0.331 percent computation. Your fact pattern chooses the line. This page only refuses to let the date disappear.

A no-tax-due result is still a filing for many entities. Owners see the words and assume the screen means they can leave. We read the instructions for the year and say whether a report is still required. Silence is how a later notice gets born.

The rendition is the asset list, dated

Business personal property renditions are ordinarily due April 15, with an extension to May 15 when you ask in writing. The Travis Central Appraisal District is the office for property in this county. The inventory we prepare comes from the asset accounts, not from memory of the back room. Furniture you threw away last summer should not still be on it. A vehicle titled to you personally should not be on the company's list unless the books say the company owns it.

School taxes arrive on a separate notice from the rendition. The district's adopted rate in the Comptroller school file we use is 0.9252 per 100 dollars of value, with a maintenance piece and an interest and sinking piece inside it. That rate is about the notice on real property. It is not the rendition form. We mention it so the two papers are not mixed up in a single pile.

We can put both filings on the same calendar as the monthly close. We cannot attend a protest hearing as your representative. If you want to protest a value, the deadline is generally May 15 or 30 days after the notice, and the appointment is yours.

How this meets the month

A franchise report written from open months inherits every mistyped deposit. A rendition written from memory misses the asset the books already know about. The close is what makes both filings boring. Boring is the goal.

If one of the two is already late, say which. If both are open, say that. We will not quote a single price that pretends they are the same task.