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I failed to file a "Franchise Tax Report in Texas and

I failed to file...

I failed to file a "Franchise Tax Report in Texas and received a Texas Notice of Forfeiture of Right to Transact Business". I went online to try and resolve this but it is extremely confusing as to what I need to do. My company is an LLC and I am a Pharmaceutical Consultant.

Accountant's Assistant: Can you tell me what state the LLC is registered in?

Sorry, Texas

Accountant's Assistant: Has anything been filed or reported?

Last year I filed a franchise report, but not this year. I file the No Tax Due Report

Accountant's Assistant: Anything else you want the lawyer to know before I connect you?

Not that I know of.

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Customer reply replied 5 months ago
Here are the documents I received.
Customer reply replied 5 months ago
The actually forfeiture document is on page 3 of the scan.
Customer reply replied 5 months ago
I have until 22Jan2018 to reinstate.
Answered in 8 minutes by:
12/16/2017
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 6,004
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
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Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

You need to file two forms as soon as possible. One reports income and the other reports owners.

Here's the link: http://www.michaelplaks.com/business-setup/texas-franchise-tax-reports

Since you missed the deadline, the State of Texas will assess you a $50 late filing penalty. Most of the time, these penalties are waived upon request, but you will have to ask.

Please let me know if I can assist you further.

Thank you and best regards,

Barb

Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 6,004
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
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Customer reply replied 5 months ago
Okay. I will look and see if I can figure it out. Thanks:)

You need to fill out Form 05-163 and 05-102.

Just click on those forms in the link I sent you. It takes you right to the form.

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Thank you for the positive rating of my answer. It is very much appreciated.

Please do not hesitate to contact me if you have any other questions.

Happy Holidays to you and your family!

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Customer reply replied 5 months ago
THanks

My pleasure.

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Customer reply replied 5 months ago
I have done both of these now. So when these are processed, this take my account out of forfeiture?

Yes.

Just to be sure, I would call to verify it one day next week.

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Customer reply replied 5 months ago
Thanks:)

You're welcome.

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Barbara
Barbara
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Category: Tax
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