Gain an understanding on how to apportion margin to Texas and identify various reporting options.
The Texas Franchise Tax has evolved over time. Changes in economic nexus, an increasingly mobile workforce, and expanded physical presence by global businesses have expanded the reach of the Texas franchise tax to additional entities, resulting in expanded filing requirements. This program will help business owners and advisors to identify which businesses are subject to reporting requirements and to evaluate, at a high level, the various reporting options. The webinar also explains methods for tracking costs necessary for calculating the cost of goods sold and compensation, and apportioning revenues. These aspects of the franchise (margin) tax have been affected by ongoing case law and legislative changes. Failing to comply with franchise tax filing and payment requirements can have serious consequences, including franchise tax forfeiture and individual liability for officers and directors. Learn what you and your clients need to be doing now to prevent problems in the future.
Learning Objectives
- You will be able to how to apportion margin to Texas.
- You will be able to identify the various reporting options
- You will be able to recognize the difference between the franchise tax and the margin calculation.
- You will be able to review business records in preparation for a Texas franchise tax audit.
Agenda
The Texas Franchise (Margin) Tax
- Doing Business in Texas - How It Has Changed
- Reporting Requirements and Options
- Franchise Tax Forfeiture
An Overview of Margin
- Revenues
- Cost of Goods Sold
- Compensation
Apportionment, Tax Rates, and Credits
- Texas Gross Receipts
- Retailers and Wholesalers
- Credits and Exemptions
Speakers
Ms Christina A. Mondrik, Esq, CPA,
Mondrik & Associates- Board certified in tax law by the Texas Board of Legal Specialization
- Founder of Mondrik & Associates
- State and federal tax controversies and litigation
- Conducts regular seminars and workshops on state and federal tax
- Past-chair, Federal Tax Policy Committee, Texas Society of CPAs
- Chair, Texas State Bar Tax Section
- Sales and Use Tax Subcommittee Chair, State and Local Tax Committee, ABA Section of Taxation
- B.B.A. degree in accounting, University of Texas, Austin; J.D. degree, University of Texas School of Law
- Can be contacted at cmondrik@mondriklaw.com or 512-542-9300
Who Should Attend
This live webinar is designed for accountants, CPAs, controllers, accounting managers, accounts payable professionals, CFOs, tax managers and officers, presidents, vice presidents, bookkeepers and attorneys.
