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New Veteran-Owned Businesses and Texas Franchise Tax

A qualifying new veteran-owned business is not subject to franchise tax for its initial five-year period, but must file Form 05-163, Texas Franchise Tax No Tax Due Report (PDF), for each of those years. For more information, see Texas Tax Code Section 171.0005 and Rule 3.574, Margin: New Veteran-Owned Businesses. To be considered a new veteran-owned business, an entity must:… Read more