Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Texas
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 08-05-2010, 07:35 PM
 
21 posts, read 62,233 times
Reputation: 11

Advertisements

Hi, evaluating the financial impact of moving to Texas and starting a software contracting business. I was wondering how taxation works for an S Corp incorporated in Texas. From what I have read so far, federal income taxes would be the same, but since Texas has no state income tax on personal taxes, there would be no taxes on the distribution. Is that correct? Or is there a minimum revenue/profit after which taxes would apply? What is Franchise Tax? Does it apply to S Corps in Texas?

Thanks.
Reply With Quote Quick reply to this message

 
Old 08-05-2010, 09:46 PM
 
7,742 posts, read 15,130,727 times
Reputation: 4295
franchise tax does apply to S corps. there are a couple of ways to calculate it but you can look them up. It can be significant if your cost of sales is low.

Texas Margin Tax FAQs (http://www.wjh-cpa.com/faqs_and_tips/margin_tax_faq.html#calculated - broken link)
Reply With Quote Quick reply to this message
 
Old 08-07-2010, 06:59 PM
 
21 posts, read 62,233 times
Reputation: 11
Thumbs up Very informative page

Thank you, it was very useful.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Texas

All times are GMT -6. The time now is 05:45 AM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top