34 Tex. Admin. Code § 3.584 - Margin: Reports and Payments
(a) Effective date.
The provisions of this section apply to franchise tax reports originally due on
or after January 1, 2008, except as otherwise noted.
(b) Definitions. The following words and
terms, when used in this section, shall have the following meanings, unless the
context clearly indicates otherwise.
(1)
Beginning date--
(A) except as provided by
subparagraph (B) of this paragraph:
(i) for a
taxable entity chartered or organized in this state, the date on which the
taxable entity's charter or organization takes effect; and
(ii) for a foreign taxable entity, the date
on which the taxable entity begins doing business in this state; or
(B) for a taxable entity that
qualifies as a new veteran-owned business, as defined in §
3.574 of this title (relating to
Margin: New Veteran-Owned Businesses), the earlier of:
(i) the fifth anniversary of the date on
which the taxable entity was chartered, organized, or otherwise formed in
Texas; or
(ii) the date the taxable
entity ceases to qualify as a new veteran-owned business.
(2) Primarily engaged in retail or
wholesale trade--A taxable entity is primarily engaged in retail or wholesale
trade only if:
(A) the total revenue from the
taxable entity's activities in retail and wholesale trade is greater than the
total revenue from its activities in trades other than retail and wholesale
trade;
(B) less than 50% of the
total revenue from the taxable entity's activities in retail or wholesale trade
comes from the sale of products the taxable entity produces or products
produced by an entity that is part of an affiliated group to which the taxable
entity also belongs, except for total revenue from activities in a retail trade
described by Major Group 58 (Eating and Drinking Places) of the SIC Manual;
and
(C) the taxable entity does not
provide retail or wholesale utilities, including telecommunications services,
electricity, or gas. For purposes of this subparagraph, selling telephone
prepaid calling cards is not providing telecommunications services.
(3) Produce--To construct,
manufacture, install during the manufacturing or construction process, develop,
mine, extract, improve, create, raise, or grow either a product or a component
of a product.
(A) A taxable entity produces a
product that it sells if the taxable entity or an entity that is part of an
affiliated group to which the taxable entity also belongs:
(i) asserts a software copyright with respect
to the product or a component of the product;
(ii) asserts a patent right under Title 35 of
the United States Code or comparable law of a foreign jurisdiction with respect
to the product, a component of the product, or the packaging of the product;
or
(iii) produces a component of
the product, or acquires the product and makes a modification to the product,
unless the taxable entity can demonstrate that the component or modification
does not increase the sales price of the product by more than 10%.
(B) Except as provided in
subparagraph (A) of this paragraph, a taxable entity does not produce a product
that it sells if an unrelated party manufactures the product and all components
of the product to the taxable entity's specifications.
(4) Product--Tangible personal property
acquired or produced for sale.
(A) Tangible
personal property--
(i) personal property
that can be seen, weighed, measured, felt, or touched or that is perceptible to
the senses in any other manner;
(ii) films, sound recordings, videotapes,
live and prerecorded television and radio programs, books, and other similar
property embodying words, ideas, concepts, images, or sound, without regard to
the means or methods of distribution or the medium in which the property is
embodied, for which, as costs are incurred in producing the property, it is
intended or is reasonably likely that any medium in which the property is
embodied will be mass-distributed by the creator or any one or more third
parties in a form that is not substantially altered; and
(iii) a computer program, as defined by Tax
Code, §
151.0031 ("Computer
Program").
(B) Tangible
personal property does not include:
(i)
intangible property; or
(ii)
services.
(5)
Retail trade--
(A) for reports originally due
on or after January 1, 2008, and before January 1, 2012, the activities
described in Division G of the SIC Manual;
(B) for reports originally due on or after
January 1, 2012, and before January 1, 2014:
(i) the activities described in Division G of
the SIC Manual; and
(ii) apparel
rental activities classified as Industry 5999 or 7299 of the SIC Manual;
and
(C) for reports
originally due on or after January 1, 2014:
(i) the activities described in Division G of
the SIC Manual;
(ii) apparel rental
activities classified as Industry 5999 or 7299 of the SIC Manual;
(iii) the activities classified as Automotive
Repair Shops, Industry Group 753 of the SIC Manual;
(iv) rental-purchase agreement activities
regulated by Business & Commerce Code, Chapter 92;
(v) rental or leasing of tools, party and
event supplies, and furniture, classified as Industry 7359 of the SIC Manual;
and
(vi) heavy construction
equipment rental or leasing activities, classified as Industry 7353 of the SIC
Manual.
(6) SIC
Manual--The 1987 Standard Industrial Classification Manual published by the
federal Office of Management and Budget.
(7) Wholesale trade--The activities described
in Division F of the SIC Manual.
(8) Unrelated party--With respect to a
taxable entity, an entity that for any period during which the entity does not
meet the requirements to be a member of the same affiliated group, as defined
in §
3.590(b)(1) of
this title (relating to Margin: Combined Reporting), as such taxable
entity.
(c) Reports and
due dates.
(1) Initial report. For taxable
entities with a beginning date prior to October 4, 2009, both the initial
report and payment of the tax due, if any, are due no later than 89 days after
the first anniversary date of the beginning date. The taxable margin computed
on the initial report is based on the business done during the period beginning
on the beginning date and ending on the last accounting period ending date for
federal income tax purposes that is at least 60 days before the original due
date of the initial report, or, if there is no such ending date, then ending on
the day that is the last day of the calendar month nearest to the end of the
taxable entity's first year of business. If the period used to compute business
done for purposes of the initial report differs from the taxable entity's last
accounting period for federal income tax purposes, then the taxable entity's
total revenue for purposes of the initial report shall be computed as if the
taxable entity had reported its federal taxable income on an Internal Revenue
Service form covering the period used to compute business done for purposes of
the initial report. The privilege period for the initial report is from the
beginning date through December 31 of the year in which the initial report is
originally due.
(2) First annual
report. For taxable entities with a beginning date of October 4, 2009, or
later, both the first annual report and payment of the tax due, if any, are due
no later than May 15 of the year following the year the entity became subject
to the tax (i.e., the beginning date). The taxable margin computed on the first
annual report is based on the business done during the period beginning on the
beginning date and ending on the last accounting period ending date for federal
income tax purposes that is in the same calendar year as the beginning date.
The privilege period for the first annual report is from the beginning date
through December 31 of the year in which the first annual report is originally
due.
(3) Annual report. The annual
franchise tax report must be filed and the tax paid no later than May 15 of
each year. The taxable margin computed on an annual report is based on the
business done during the period beginning with the day after the last date upon
which tax was computed under Tax Code, Chapter 171 on a previous report, and
ending with the last accounting period ending date for federal income tax
purposes ending in the calendar year before the calendar year in which the
report is originally due, or, if there is no such ending date, then ending on
December 31 of the calendar year before the calendar year in which the report
is originally due. A taxable entity that uses a 52 - 53 week accounting year
end and has an accounting year ending the first four days of January of the
year in which the annual report is originally due may use the preceding
December 31 as the date through which taxable margin is computed. If the period
used to compute business done for purposes of the annual report differs from
the taxable entity's last accounting period for federal income tax purposes,
then the taxable entity's total revenue for purposes of the annual report shall
be computed as if the taxable entity had reported its federal taxable income on
an Internal Revenue Service form covering the period used to compute business
done for purposes of the annual report. The privilege period for an annual
report is January 1 through December 31 of the year in which the annual report
is originally due.
(4) Final
report. A final tax report and payment of the additional tax are due within 60
days after the taxable entity no longer has sufficient nexus with Texas to be
subject to the franchise tax. See §
3.592 of this title (relating to
Margin: Additional Tax) for further information concerning the additional tax
imposed by Tax Code, §
171.0011.
(5) Extensions.
(A) Annual report. See §
3.585 of this title (relating to
Margin: Annual Report Extension), for extensions of time to file an annual
report, including the first annual report.
(B) Final report. A taxable entity will be
granted a 45-day extension of time to file a final report, if the taxable
entity:
(i) requests the extension on or
before the filing date;
(ii)
requests the extension on a form provided by the comptroller; and
(iii) remits 90% or more of the tax reported
as due on the final report.
(6) Nontaxable entities. See §
3.581 of this title (relating to
Margin: Taxable and Nontaxable Entities) for information concerning nontaxable
entities. Except for passive entities (see §
3.582 of this title (relating to
Margin: Passive Entities)), a nontaxable entity that has not notified the
comptroller or the secretary of state that it is doing business in Texas, or
that has previously notified the comptroller that it is not taxable, must
notify the comptroller in writing only when the entity no longer qualifies as a
nontaxable entity. If an entity receives notification in writing from the
comptroller asking for information to determine if the entity is a taxable
entity, the entity must reply to the comptroller within 30 days of the
notice.
(7) Passive entities. See
§
3.582 of this title, for
information concerning the reporting requirements for a passive
entity.
(8) Combined reporting.
Taxable entities that are part of an affiliated group engaged in a unitary
business must file a combined group report in lieu of individual reports,
except that a public information report or ownership information report must be
filed for each member of the combined group with nexus. See §
3.590 of this title for rules on
filing a combined report.
(9) New
veteran-owned businesses. See §
3.574 of this title for
information concerning the reporting requirements for a qualifying new
veteran-owned business.
(10) Date
of filing. See §3.13 (relating to Postmarks, Timely Filing of Reports, and
Timely Payment of Taxes and Fees) for information concerning the requirements
for timely filing.
(11)
Receivership. It is the responsibility of a receiver to file franchise tax
reports and pay the franchise tax of a taxable entity in receivership. A debtor
in possession or the appointed trustee or receiver of a taxable entity in
reorganization or arrangement proceedings under the Bankruptcy Act is
responsible for filing franchise tax reports and paying the franchise tax
pursuant to the plan of reorganization or arrangement.
(d) Calculation of tax.
(1) Margin computation. A taxable entity's
margin equals the least of the following calculations, if eligible:
(A) For reports originally due on or after
January 1, 2008, and before January 1, 2014:
(i) total revenue minus cost of goods
sold;
(ii) total revenue minus
compensation; or
(iii) 70% of total
revenue.
(B) For reports
originally due on or after January 1, 2014:
(i) total revenue minus cost of goods
sold;
(ii) total revenue minus
compensation;
(iii) 70% of total
revenue; or
(iv) total revenue
minus $1 million.
(2) Rate. Except as provided by paragraph (6)
of this subsection:
(A) For reports
originally due on or after January 1, 2008, but before January 1, 2014:
(i) a tax rate of 1.0% of taxable margin
applies to most taxable entities; and
(ii) a tax rate of 0.5% of taxable margin
applies to taxable entities primarily engaged in retail or wholesale
trade.
(B) For reports
originally due on or after January 1, 2014, but before January 1, 2015:
(i) a tax rate of 0.975% of taxable margin
applies to most taxable entities; and
(ii) a tax rate of 0.4875% of taxable margin
applies to taxable entities primarily engaged in retail or wholesale
trade.
(C) For reports
originally due on or after January 1, 2015, but before January 1, 2016:
(i) a tax rate of 0.95% of taxable margin
applies to most taxable entities; and
(ii) a tax rate of 0.475% of taxable margin
applies to taxable entities primarily engaged in retail or wholesale
trade.
(D) For reports
originally due on or after January 1, 2016:
(i) a tax rate of 0.75% of taxable margin
applies to most taxable entities; and
(ii) a tax rate of 0.375% of taxable margin
applies to taxable entities primarily engaged in retail or wholesale
trade.
(3)
Annualized Total Revenue. When the accounting period on which a report is based
is more or less than 12 months, a taxable entity must annualize its total
revenue to determine its eligibility for the no tax due threshold, discounts,
and E-Z Computation. The amount of total revenue used in the actual tax
calculations will not change as a result of annualizing revenue. To annualize
total revenue, an entity will divide total revenue by the number of days in the
period upon which the report is based, and then multiply the result by 365.
Examples are as follows:
(A) a taxable
entity's 2010 franchise tax report is based on the period September 15, 2009
through December 31, 2009 (108 days), and its total revenue for the period is
$375,000. The taxable entity's annualized total revenue is $1,267,361 ($375,000
divided by 108 days multiplied by 365 days). Based on its annualized total
revenue, the taxable entity does not qualify for the $1,000,000 no tax due
threshold but is eligible to file using the E-Z computation. The discounts do
not apply in years when the no tax due threshold is $1,000,000;
(B) a taxable entity's 2010 franchise tax
report is based on the period March 1, 2008 through December 31, 2009 (671
days), and its total revenue for the period is $1,375,000. The taxable entity's
annualized total revenue is $747,951 ($1,375,000 divided by 671 days multiplied
by 365 days). Based on its annualized total revenue, the taxable entity
qualifies for the $1,000,000 no tax due threshold and is eligible to file using
the No Tax Due Information Report.
(4) No tax due. Effective September 1, 2015,
No Tax Due Reports are required to be filed electronically. See §
3.587(c)(8)(C)
of this title (relating to Margin: Total Revenue) for the tiered partnership
exception to filing No Tax Due Reports.
(A) A
taxable entity owes no tax and may file a No Tax Due Report if its annualized
total revenue is:
(i) for reports originally
due on or after January 1, 2008, but before January 1, 2010, $300,000 or
less;
(ii) for reports originally
due on or after January 1, 2010, but before January 1, 2012, $1 million or
less;
(iii) for reports originally
due on or after January 1, 2012, but before January 1, 2014, $1,030,000 or
less;
(iv) for reports originally
due on or after January 1, 2014, but before January 1, 2016, $1,080,000 or
less;
(v) for reports originally
due on or after January 1, 2016, but before January 1, 2018, $1,110,000 or
less; and
(vi) for reports
originally due on or after January 1, 2018, the amount determined under Tax
Code, §
171.006 (Adjustment of
Eligibility for No Tax Due, Discounts, and Compensation
Deduction).
(B) A taxable
entity that has zero Texas receipts owes no tax and may file a No Tax Due
Report.
(C) A taxable entity that
has tax due of less than $1,000 owes no tax; however, the entity cannot file a
No Tax Due Report and must file a regular annual report or, if qualified, the
E-Z Computation Report.
(5) Discount. A taxable entity is entitled to
a discount of the tax imposed as follows.
(A)
For reports originally due on or after January 1, 2008, but before January 1,
2010, if annualized total revenue is:
(i)
greater than $300,000 and less than $400,000, the discount is 80% of tax
due;
(ii) greater than or equal to
$400,000 and less than $500,000, the discount is 60% of tax due;
(iii) greater than or equal to $500,000 and
less than $700,000, the discount is 40% of tax due;
(iv) greater than or equal to $700,000 and
less than $900,000, the discount is 20% of tax due.
(B) For reports originally due on or after
January 1, 2010 there are no discounts.
(6) E-Z Computation.
(A) For reports originally due on or after
January 1, 2008, and before January 1, 2016, a taxable entity with annualized
total revenue of $10 million or less may choose to pay the franchise tax by
using the E-Z Computation method. For this period, under the E-Z Computation, a
taxable entity's tax liability is computed by applying a tax rate of 0.575% to
apportioned total revenue and subtracting any applicable discount as provided
by paragraph (5) of this subsection.
(B) For reports originally due on or after
January 1, 2016, a taxable entity with annualized total revenue of $20 million
or less may choose to pay the franchise tax by using the E-Z Computation
method. For this period, under the E-Z Computation, a taxable entity's tax
liability is computed by applying a tax rate of 0.331% to apportioned total
revenue.
(C) No deductions to
compute margin, credits, or other adjustments are allowed if a taxable entity
chooses to compute its tax liability under the E-Z Computation.
(7) Tiered partnership provision.
See §
3.587 of this title for
information concerning the tiered partnership provision.
(A) Eligibility for no tax due, discounts and
the E-Z Computation. For eligible entities choosing to file under the tiered
partnership provision, paragraphs (4), (5), and (6) of this subsection do not
apply to an upper or lower tier entity if, before the attribution of total
revenue by a lower tier entity to upper tier entities, the lower tier entity
does not meet the criteria.
(B)
Tiered Partnership Report. The lower tier entity must submit a report to the
comptroller indicating its total revenue before attribution and the amount of
total revenue that each upper tier entity must include with the upper tier
entity's own total revenue. Each upper tier entity must submit a report to the
comptroller indicating the lower tier entity's total revenue before attribution
and the amount of the lower tier entity's total revenue that was passed to the
upper tier entity and is included in the total revenue of the upper tier
entity.
(e)
Penalty and interest on delinquent taxes.
(1)
Tax Code, §
171.362 (Penalty for Failure
to Pay Tax or File Report), imposes a 5.0% penalty on the amount of franchise
tax due by a taxable entity that fails to report or pay the tax when due. If
any part of the tax is not reported or paid within 30 days after the due date,
an additional 5.0% penalty is imposed on the amount of tax unpaid. There is a
minimum penalty of $1.00. Delinquent taxes accrue interest beginning 60 days
after the due date. For example, if payment is made on the 61st day after the
due date, one day's interest is due. The annual rate of interest on delinquent
taxes is the prime rate plus one percent, as published in The Wall Street
Journal on the first day of each calendar year that is not a Saturday, Sunday,
or legal holiday.
(2) When a
taxable entity is issued an audit assessment or other underpayment notice based
on a deficiency, penalties under Tax Code, §
171.362, and interest are
applied as of the date that the underpaid tax was originally due, including any
extensions, not from the date of the deficiency determination or date the
deficiency determination is final.
(3) A deficiency determination is final 60
days after the date the notice of the determination is issued.
(A) The amount of a determination is due and
payable 10 days after it becomes final. If the amount of the determination is
not paid within 10 days after the day it became final, a penalty under Tax
Code, §
111.0081 (When Payment is
Required), of 10% of the tax assessed will be added. For example, if a
deficiency determination is made in the amount of $1,000 tax (plus the initial
penalty and interest), but the total amount of the deficiency is not paid until
the 71st day after the deficiency notice is issued, $1,200 plus interest would
be due (i.e., $1,000 tax, $100 initial penalty for not paying when originally
due, $100 penalty for not paying deficiency determination within 10 days after
it became final, plus interest accrued to the date of payment at the applicable
statutory rate).
(B) A petition for
redetermination must be filed within 60 days after the date the notice of
determination is issued, or the redetermination is barred.
(C) A decision on a petition for
redetermination becomes final at the time a decision in a contested case is
final under Government Code, Chapter 2001. The amount of a determination is due
and payable 20 days after the decision is final. If the amount of the
determination is not paid within 20 days after the day the decision becomes
final, a penalty under Tax Code, §
111.0081, of 10% of the tax
assessed will be added. Using the previous example, on the 21st day after the
decision is final, $1,200 plus interest would be due (i.e., $1,000 tax, $100
initial penalty, $100 additional penalty and the applicable accrued
interest).
(4) A jeopardy
determination is final 20 days after the date on which the service of the
notice is completed unless a petition for redetermination is filed before the
determination becomes final. Service by mail is complete when the notice is
deposited with the United States Postal Service. The amount of the
determination is due and payable immediately. If the amount determined is not
paid within 20 days from the date of service, a penalty, under Tax Code, §
111.022 (Jeopardy
Determination), of 10% of the amount of tax and interest assessed will be
added.
(5) If the comptroller
determines that a taxable entity exercised reasonable diligence to comply with
the statutory filing or payment requirements, the comptroller may waive
penalties or interest for the late filing of a report or for a late payment.
The taxable entity requesting waiver must furnish a detailed description of the
circumstances that caused the late filing or late payment and the diligence
exercised by the taxable entity in attempting to comply with the statutory
requirements. See §
3.5 of this title (relating to
Waiver of Penalty or Interest) for additional information.
(6) If a taxable entity fails to comply with
Tax Code, §
171.212 (Report of Changes
to Federal Income Tax Return), the taxable entity is liable for a penalty of
10% of the tax that should have been reported and had not previously been
reported to the comptroller under Tax Code, §
171.212. This penalty is in
addition to any other penalty provided by law.
(f) Amended reports. In filing an amended
report, the taxable entity must type or print on the top of the report the
phrase "Amended Report." The report should be forwarded with a cover letter of
explanation, with enclosures necessary to support the amendment. Applicable
penalties and interest must be reported and paid along with any additional
amount of tax shown to be due on the amended report.
(1) A taxable entity may file an amended
report for the purpose of correcting a mathematical or other error in a report,
for the purpose of supporting a claim for refund, or to change its method of
computing margin or, if qualified, to use the E-Z Computation.
(2) A taxable entity that has been audited by
the Internal Revenue Service must file an amended franchise tax report within
120 days after the Revenue Agent's Report (RAR) is final, if the RAR results in
changes to taxable margin reported for franchise tax purposes. An RAR is final
when all administrative appeals with the Internal Revenue Service have been
exhausted or waived. An administrative appeal with the Internal Revenue Service
does not include an action or proceeding in the United States Tax Court or any
other federal court.
(3) A taxable
entity whose taxable margin is changed as a result of an audit or other
adjustment by a competent authority other than the Internal Revenue Service
must file an amended franchise tax report within 120 days after the adjustment
is final. An adjustment is final when all administrative or other appeals have
been exhausted or waived. For the purposes of this section, a competent
authority includes, but is not limited to, the United States Tax Court, United
States District Courts, United States Courts of Appeals, and United States
Supreme Court.
(4) A taxable entity
must file an amended franchise tax report within 120 days after the taxable
entity files an amended federal income tax return that changes the taxable
entity's taxable margin. A taxable entity is considered to have filed an
amended federal income tax return if the taxable entity is a member of an
affiliated group during a period in which an amended consolidated federal
income tax return is filed.
(5) A
final determination resulting from an Internal Revenue Service administrative
proceeding (including an audit), or a judicial proceeding arising from an
administrative proceeding, that affects the amount of franchise tax liability
must be reported to the comptroller before the expiration of 120 days after the
day on which the determination becomes final. See Tax Code, §
111.206 (Exception to
Limitation: Determination Resulting from Administrative Proceeding).
(6) Because the 10% penalty provided for in
Tax Code, §
171.212 only applies to
deficiencies, failure to file an amended return in which a refund would result
will not cause a 10% penalty to be imposed.
(g) Comptroller audit. During the course of
an audit or other examination of a taxable entity's franchise tax account, the
comptroller may examine financial statements, working papers, registers,
memoranda, contracts, corporate minutes, and any other business papers used in
connection with its accounting system. In connection with the examination, the
comptroller may also examine any of the taxable entity's officers or employees
under oath.
(h) Payment of
determination. The payment of a determination issued to a taxable entity for an
estimated tax liability shall not satisfy the reporting requirements set forth
in Tax Code, Chapter 171, Subchapter E, concerning reports and
records.
(i) Information report.
Each taxable entity on which the franchise tax is imposed must file an
information report.
(1) Public information
report. For a taxable entity legally formed as a corporation, limited liability
company, limited partnership, professional association, or financial
institution, a public information report as described in Tax Code, §
171.203 (Public Information
Report), is due at the same time each initial and annual, including the first
annual, report is due. An authorized person must sign the public information
report on behalf of the taxable entity under a certification that:
(A) all information contained in the report
is true and correct to the best of the authorized person's knowledge;
and
(B) a copy of the report has
been mailed to each person named in the report who is an officer, director, or
manager and who is not employed by the taxable entity or a related (at least
10% ownership) taxable entity on the date the report is filed.
(C) A report that is filed electronically
complies with the signature and certification requirements of this
provision.
(2) Ownership
information report. Taxable entities not required to file a public information
report must file an ownership information report as described in Tax Code,
§
171.201 (Initial Report) and
§171.202 (Annual Report) is due at the same time each initial and annual,
including the first annual, report is due.
(3) Failure to file or sign a public
information report or ownership information report shall result in the
forfeiture of corporate or business privileges as provided by Tax Code, §
171.251 (Forfeiture of
Corporate Privileges) and §171.2515 (Forfeiture of Right of Taxable Entity
to Transact Business in this State). If the corporate or business privileges
are forfeited, each officer or director of the taxable entity may be liable for
each debt of the taxable entity that is created or incurred in Texas after the
date on which the report is due and before the corporate or business privileges
are revived, as provided by Tax Code, §
171.255 (Liability of
Directors and Officers).
(4) The
provisions of paragraph (3) of this subsection, concerning forfeiture of
corporate privileges do not apply to a banking taxable entity or a savings and
loan association, as defined in Tax Code, §
171.0001 (General
Definitions).
(5) For purposes of
this subsection:
(A) authorized person means,
in the case of a corporation, an officer, director or other authorized person
of the corporation;
(B) authorized
person means, in the case of a limited liability company, a member, manager or
other authorized person of the limited liability company;
(C) authorized person means, in the case of a
limited partnership, a partner or other authorized person of the
partnership;
(D) director includes
a manager of a limited liability company, a general partner in a limited
partnership and a general partner in a partnership registered as a limited
liability partnership;
(E)
authorized person also includes a paid preparer authorized to sign the
report.
(6) Taxable
entities that are members of a combined group and do not have nexus in Texas
are not required to file an ownership information report or a public
information report.
Notes
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