Texas 05 164 Form in PDF

Detailed Guide for Writing Texas 05 164

After deciding to request an extension for the Texas franchise tax, it's necessary to fill out the 05-164 form accurately. This document is designed to simplify the process, ensuring timely submission and compliance with the state's requirements. Following the steps provided will guide you through completing the form correctly. Remember, if you represent a combined group, you must also submit Form 05-165 in addition to this extension request. For those mandated to make payments through Electronic Fund Transfer (EFT), special attention is required if a second extension is being sought, as the Affiliate List Form 05-165 should not be resubmitted in this case.

1. Locate the "Taxpayer number" section and enter the appropriate taxpayer identification number.
2. In the "Report year" section, fill in the year for which the extension is being requested, such as "2014".
3. Enter the due date for the report, which for 2014, is "05/15/2014".
4. Provide the "Taxpayer name" as registered with the Texas Secretary of State or Comptroller's office.
5. If known, fill in the Secretary of State file number or Comptroller file number in the designated field.
6. Include the mailing address, city, state, country, and ZIP Code Plus 4 in the corresponding fields. If the address has changed, make sure to blacken the circle indicating so.
7. For combined reports, blacken the circle to indicate and remember to also fill out Form 05-165.
8. In the "Extension payment" section, enter the amount of payment in dollars and cents.
9. Print or type the name of the person completing the form alongside their contact phone number, including the area code.
10. Read the declaration at the bottom of the form, ensuring the information provided is true and correct to the best of your knowledge and belief.
11. Sign and date the form before mailing it to the Texas Comptroller of Public Accounts at the provided address: P.O. Box 149348, Austin, TX 78714-9348.

Once the form is submitted, keep a copy for your records. The Texas Comptroller’s office may be contacted for any questions regarding the franchise tax. Remember, taxpayers who paid $10,000 or more in the preceding fiscal year are required to make payments electronically. For latest instructions and additional information, visiting the Texas Comptroller's website is advised.

Filling out the Texas 05 164 form, which is the Texas Franchise Tax Extension Request, can be a complex process. To avoid common pitfalls, here’s a list of ten mistakes people often make:

1. Incorrect Taxpayer Number: Not entering the correct taxpayer number, which leads to your extension request being processed for the wrong entity.
2. Failing to Blacken Circles: Overlooking the need to blacken circles if the address has changed or if filing a combined report. This omission can result in misdirected correspondence or incorrect processing.
3. Not Completing Form 05-165 for Combined Groups: If applying for an extension for a combined group without also completing and submitting Form 05-165 as required.
4. Inaccurate Payment Amounts: Entering the wrong extension payment amount in dollars and cents, which can lead to underpayment or overpayment issues.
5. Misprinting the Due Date: Incorrectly noting the due date, potentially leading to late submissions.
6. Incorrect Report Year: Entering the wrong report year, which could result in the extension being applied to the incorrect fiscal period.
7. Omitting Contact Information: Forgetting to print or type the name of the person to contact, along with a correct phone number, making it difficult for the comptroller's office to reach out if there are issues.
8. Electronic Payment Requirement Ignored: Businesses that paid $10,000 or more during the preceding fiscal year are required to pay electronically. Not adhering to this requirement can cause compliance issues.
9. Not Requesting the Second Extension Correctly: For mandatory Electronic Fund Transfer (EFT) payers, not knowing when not to submit an Affiliate List Form 05-165 for a second extension request.
10. Assuming Submission is Confirmation: Assuming that submitting the extension request guarantees approval. Always verify that your extension has been granted.

It is crucial to approach the Texas 05 164 form with attention to detail to ensure all information is accurate and complete. Carefully reviewing instructions, double-checking entered information, and verifying submission and acceptance can prevent these common mistakes, assisting in the seamless processing of your franchise tax extension request.

In the realm of Texas business operations, the Texas 05 164 form, or the Texas Franchise Tax Extension Request, plays a crucial role by allowing businesses to request additional time to file their franchise tax reports. The completion and submission of this form often coincide with several other documents required by the Texas Comptroller or relevant state entities. Understanding these supplementary forms helps ensure compliance with Texas's business regulations and can streamline the administrative process for entities subject to the franchise tax.

1. Form 05-165, Texas Franchise Tax Affiliation Schedule: Needed if filing a combined report, this form lists all members of the affiliated group and their relevant taxpayer numbers.
2. Form 05-102, Texas Franchise Tax Public Information Report: This document provides the state with current contact and leadership information for the entity, including officers, directors, or members/managers.
3. Form 05-158-A, Texas Franchise Tax Report - Long Form, Part A: The first part of the long form report for franchise tax, detailing the company's financial information and the basis for the tax calculation.
4. Form 05-158-B, Texas Franchise Tax Report - Long Form, Part B: The second part of the long form, providing details on tiered partnership adjustments and passive entities.
5. Form 05-163, No Tax Due Information Report: For entities that owe no franchise tax, this form confirms their no-tax status through various exemptions, exclusions, or thresholds.
6. Form 05-169, Texas Franchise Tax EZ Computation Report: A simplified version of the franchise tax report for qualifying businesses, offering an easier calculation method.
7. Form 05-175, Franchise Tax Affiliate Schedule: Similar to Form 05-165, but for those entities not filing a combined report, this schedule documents the relationships between affiliated entities.
8. Form 05-177, Final Franchise Tax Report: Filed by entities that are closing or terminating their existence in Texas, this report finalizes their tax obligations.
9. Form 05-359, Request for Certificate of Account Status to Terminate a Taxable Entity’s Existence in Texas (or for a Nonprofit Corporation or Cooperative Association to Withdraw from Texas): A document required to formally end or withdraw a business's operations in Texas, verifying that all tax liabilities have been met.
10. Electronic Funds Transfer (EFT) Authorization: While not a specific form, entities paying more than the designated amount in taxes must use EFT for payments. This procedure requires prior setup and authorization with the Comptroller's office.

Together, these documents encompass a broad spectrum of information and compliance requirements for Texas businesses related to the franchise tax. Each form serves a specific purpose, from detailing financial data for tax calculation, updating corporate information, to fulfilling the final obligations of a business ceasing operations in Texas. Ensuring accuracy and timeliness in these forms' submission is paramount for compliance and the avoidance of penalties. Familiarity with these documents, alongside the Texas 05 164 form, forms a critical foundation for navigating Texas’s franchise tax requirements.

The Texas Form 05-162, Texas Franchise Tax No Tax Due Information Report, shares similarities with the Texas 05-164 form in its fundamental purpose, which is related to the franchise tax obligations for entities operating in Texas. Both forms are integral parts of the franchise tax compliance process, with the 05-162 form being specifically used by entities that claim they owe no franchise tax. Much like the 05-164, it demands precise information about the business, including taxpayer number and reporting year, but focuses on certifying that the entity does not meet the threshold for franchise tax payment.

Form 05-158, Texas Franchise Tax Report, parallels the 05-164 form in that businesses use it to detail their earnings and calculate the franchise tax owed. This comprehensive document requires detailed financial information, similar to the 05-164, which serves for requesting extensions. Both forms require identification details such as taxpayer name and number, but the 05-158 form goes further in breaking down income and deductions to compute the tax, demonstrating a direct link in the franchise tax filing process.

The IRS Form 7004, Application for Automatic Extension of Time To File Certain Business Income Tax, Information, and Other Returns, is a federal counterpart to the Texas 05-164 form, offering businesses extra time to file their tax returns. While the 05-164 form grants a Texas franchise tax extension, the Form 7004 applies to a broad array of federal taxes, including corporate and partnership taxes. Each form serves to alleviate the pressure of tax deadlines, offering companies critical additional time to ensure their filings are accurate and complete.

The IRS Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return, while meant for individuals rather than businesses, serves a similar purpose to the Texas 05-164 form by allowing extra time for filers. This extension helps individuals to gather necessary documentation and avoid penalties for late filing. The similarity lies in the intent behind both forms – to provide taxpayers with flexibility and reduce the likelihood of errors in rushed submissions.

Form 05-102, Texas Public Information Report, is submitted alongside the franchise tax reports and shares common details with the 05-164 form such as business name and address, officer names, and contact information. Although the 05-102 is primarily intended for public disclosure of key entity information, its requirement to file collectively with the franchise tax reports ties it directly to the annual tax cycle, including extensions requested via the 05-164.

Form 05-169, Texas Franchise Tax EZ Computation Report, is a simplified version for calculating franchise tax, similar to the 05-164 in that it is part of the franchise tax reporting process. It is designed for smaller companies that meet certain criteria, offering a streamlined method for reporting income and calculating tax owed. The connection between the two forms lies in their shared objectives of fulfilling franchise tax obligations, albeit for different stages of the reporting process.

Form 05-175, Texas Franchise Tax Affiliate Schedule, is intricately connected to the 05-164 when an extension request involves a combined group. This form lists all members of an affiliated group that are filing a combined report, a scenario where the 05-164 form explicitly mentions the need to also submit the 05-175 if filing as a combined group. Both forms collaborate to ensure accurate and complete reporting for entities with complex organizational structures.

The Texas Application for Retailer’s On-Premise Late Hours License/Permit (TABC Form LON), despite its specific focus on liquor licensing, shares the administrative theme of seeking an extension or additional permission with the 05-164 form. In both cases, entities are required to submit applications to Texas state agencies to extend operational permissions – in one case, for tax reporting, and in the other, for operating hours.

The SBA Form 5, Disaster Business Loan Application, is akin to the 05-164 in situations where businesses face unforeseen challenges. While the SBA form is for seeking financial aid following disasters, the 05-164 offers companies breathing room during financial reporting. Each form acknowledges the realities businesses face and provides a mechanism to navigate through those challenges, be it through financial support or additional time for compliance.

The Texas Workforce Commission’s (TWC) Quarterly Report Form C-3, which employers use to report wages and calculate unemployment taxes, resembles the 05-164 form in its purpose of ensuring businesses meet their state tax obligations. Both require specific business and financial information to comply with Texas laws, although they serve different ends – one for unemployment contributions and the other for franchise tax responsibilities. The necessity for accurate and timely filings unites these documents in the broader context of state compliance requirements.

When approaching the task of filling out the Texas 05 164 form, a document crucial for requesting a franchise tax extension, individuals need to navigate the process with care. This guide distills the essentials into a list of dos and don'ts that aim to streamline the completion and submission of the form effectively.

1. Review the instructions carefully: Before you start, ensure you understand the requirements by visiting the Texas Comptroller's official website and reviewing the guidelines for form 05-164.

2. Double-check taxpayer information: Verify the accuracy of the taxpayer name, taxpayer number, and other identifying information to prevent processing delays.

3. Indicate address changes: If your mailing address has changed, make sure to blacken the appropriate circle on the form to notify the Comptroller's office.

4. Correctly identify report type: Indicate clearly by darkening the circle if your extension request pertains to a combined report. Remember, a combined group must also submit Form 05-165.

5. Include accurate payment information: When listing the extension payment, ensure all dollars and cents are correct to prevent underpayment or overpayment issues.

6. Sign and date the form: The form requires your signature to attest to the accuracy of the information provided. Do not overlook this crucial step.

7. Utilize electronic payment if applicable: If you paid $10,000 or more in franchise taxes in the preceding fiscal year, you are required to pay electronically, according to the comptroller's website.

1. Delay your submission: Make note of the due date (such as 05/15/2014 for the year 2014) and avoid procrastination to prevent late penalties.

2. Submit incomplete forms: Failing to provide all required information or omitting necessary documents can lead to processing delays and potential errors in your extension request.

3. Ignore EFT payer requirements: If you are a mandatory Electronic Fund Transfer payer requesting a second extension, do not submit an Affiliate List Form 05-165 as it's not required and could complicate the process.

4. Use incorrect form versions: Always ensure you are using the most current version of the form (revision noted as 9.9-13/7 for this instance) to comply with the latest tax laws and regulations.

5. Overlook the declaration statement: The declaration that the information provided is true and correct is a legal statement. Take it seriously to avoid potential legal consequences.

6. Misplace the mailing address: The form must be mailed to the specific address given (Texas Comptroller of Public Accounts P.O. Box 149348 Austin, TX 78714-9348). Using an outdated or incorrect address can result in your form not reaching its destination.

7. Forget to contact support if needed: If you have questions or face issues, remember that assistance is available through the Texas Comptroller's field office or by calling 1-800-252-1381.

Adhering to these guidelines will facilitate a smoother experience in requesting a franchise tax extension through the Texas 05 164 form. Keeping organized, following instructions, and paying attention to detail can help avoid common pitfalls in the process.

Understanding the Texas 05-164 form, which serves as a Franchise Tax Extension Request, can sometimes be complicated due to misconceptions surrounding its purpose and requirements. Let's demystify some of the common misunderstandings about this vital document to help taxpayers navigate the process with more confidence.

• Misconception #1: Any business can postpone their franchise tax payment.

  While the 05-164 form does allow businesses to request an extension for filing their franchise tax reports, it's essential to note that this extension only applies to the report filing. The full payment of the estimated franchise tax owed is still required by the original due date. This detail is often overlooked, leading to the false belief that an extension for filing also means an extension for payment.

• Misconception #2: The extension is automatic.

  Some might think that the extension for filing the franchise tax report is granted automatically upon request. However, submitting the Texas 05-164 form is a request that must be properly completed and approved. Additionally, if the extension is for a combined group, Form 05-165 must also be submitted, highlighting that an extension involves more steps than simply sending one form.

• Misconception #3: Electronic payments are optional for all taxpayers.

  The document explicitly notes that taxpayers who paid $10,000 or more during the preceding fiscal year are required to pay their franchise tax electronically. This directive means that for some businesses, electronic payment isn't just an option but a mandatory requirement. This condition emphasizes the movement towards electronic processing to streamline and secure tax payments.

• Misconception #4: Information updates are not crucial.

  Updating address and contact information might seem like a minor detail, but the form specifically includes sections to indicate such changes. This aspect is crucial because failing to update this information can lead to missed communications or important updates from the Texas Comptroller's office. Keeping information current ensures that businesses receive all necessary correspondence and remain compliant with state requirements.

In navigating the complexities of the Texas franchise tax system, understanding these key aspects of the 05-164 form can significantly aid businesses in ensuring their compliance and avoiding common pitfalls. By dispelling these misconceptions, companies can better prepare for their tax obligations and maintain a smooth operational flow.

Filling out and using the Texas 05 164 form, known as the Texas Franchise Tax Extension Request, involves several critical steps and important pieces of information that require careful attention. Here are key takeaways to ensure compliance and accuracy during the process.

• The Texas 05 164 form is specifically designed for businesses seeking an extension of time to file their annual franchise tax report. It is crucial to submit this form by the original due date of May 15th, 2014, to avoid penalties and interest for late submission.
• If the extension request is for a combined group, one must also complete and submit Form 05-165 in addition to the 05 164 form. This ensures that all entities within the combined group are properly accounted for in the extension request.
• Note for mandatory Electronic Fund Transfer (EFT) payers: It is highlighted that businesses required to pay their franchise tax electronically due to the threshold of $10,000 or more in payments during the previous fiscal year, should not submit the Affiliate List Form 05-165 when requesting a second extension. This simplifies the process for EFT payers, streamlining their extension request.
• The form necessitates the disclosure of accurate information relating to the taxpayer, including the taxpayer number, report year, due date, and relevant contact information. It underscores the importance of ensuring all provided details are true and correct to the best of the applicant's knowledge and belief, as attested at the end of the form before mailing it to the Texas Comptroller of Public Accounts.

Lastly, for any questions or further clarification regarding the franchise tax or the extension request process, businesses are encouraged to reach out directly to the Texas Comptroller’s field office or utilize the provided contact information. This support is invaluable for navigating the complexities of tax compliance and ensuring all requirements are met in a timely manner.