How do I reinstate a forfeited LLC in Texas?

An entity forfeited under the Tax Code can reinstate at any time (so long as the entity would otherwise continue to exist) by (1) filing the required franchise tax report, (2) paying all franchise taxes, penalties, and interest, and (3) filing an application for reinstatement (Form 801 Word 178kb, PDF 87kb).

How do I get a tax clearance certificate in Texas?

Certificates of no tax due are issued by the Texas Comptroller. You can submit a request on paper, by fax, or by email. The seller of the business must authorize the request. That means that if you’re trying to buy a business, you’ll need the cooperation of the current owner to get a certificate.

How much does it cost to dissolve an LLC in Texas?

The Secretary of State charges a $40 filing fee for dissolving an LLC. If submitting via the website, you can pay online when you submit the forms. Checks should be payable to the secretary of state, and if you’re paying by credit card via fax, make sure you also attach Form 807.

What does forfeited franchise tax mean in Texas?

The entity’s right to transact business in Texas is forfeited . The entity’s franchise tax responsibilities ended because the entity has ceased to exist in its state or country of formation or has ceased doing business in Texas.

Can I reinstate my LLC online in Texas?

Complete and submit the Tax Clearance Letter Request for Reinstatement (Form 05-391). It can be submitted online or by mail.

Can you reactivate a dissolved LLC?

Once the vote or consent is received, the articles of dissolution for the LLC are withdrawn. If reinstatement is not available in a specific state, the only option for reactivating an LLC that has been dissolved is to form a new limited liability company using the old name of the dissolved LLC.

How do I get my tax clearance certificate online?

How to request your Tax Compliance Status via eFiling

1. Selecting the Tax Compliance Status Request option and the type of TCS for which you would like to apply. You will have the following options: Good standing. Tender.
2. Complete the Tax Compliance Status Request and submit it to SARS.

What is a Texas tax certificate?

A tax certificate is an official document that certifies the current state of taxes. It includes the amount of delinquent taxes, penalties, interests and any known costs and expenses due if the taxes are delinquent.

How do I remove myself from an LLC in Texas?

To dissolve your Texas LLC, you must file a Certificate of Termination with the Secretary of State. There is a $40 filing fee. The form can be filed online. If you’d like to save yourself some time, you can hire us to dissolve your LLC for you.

How do you end an LLC?

How to Dissolve an LLC

1. Vote to Dissolve the LLC. Members who decide to dissolve the company are taking part in something called a voluntary dissolution.
2. File Your Final Tax Return.
3. File an Article of Dissolution.
4. Settle Outstanding Debts.
5. Distribute Assets.
6. Conduct Other Wind Down Processes.

Should I dissolve my LLC?

Officially dissolving an LLC is important. If you don’t, you can be held personally liable for the unpaid debts and taxes of the LLC. Many states also levy a fee against LLCs each year. If you don’t properly dissolve a company, that fee will continue to be charged.

How is the Texas franchise tax calculated?

The Texas Franchise Tax is calculated on a company’s margin for all entities with revenues above $1,110,000. Total Revenue Multiplied by 70 Percent. Total Revenue Minus Cost of Goods Sold. Total Revenue Minus Compensation.

How to terminate a taxable entity’s existence in Texas?

Complete and submit Form 05-359, Request for Certificate of Account Status to Terminate a Taxable Entity’s Existence in Texas or Registration (PDF), or request the certificate online using Webfile External Link: undefined.

What are the filing requirements for Texas-formed and out of state entities?

Translation: Both Texas-formed and out of state entities registered with the Texas Secretary of State (SOS) must satisfy all state tax filing requirements before they can reinstate, terminate, merge or convert a business. These requirements are detailed below. Note the filing due dates to avoid late penalties.

How do I request a tax clearance letter in Texas?

Call 512-463-5555 or visit www.sos.texas.gov for more information. Request certificates of account status to terminate a business or request tax clearance letters to reinstate a business by using Webfile, our online system. Learn more about these requests.

What are the filing requirements for termination of registration in Texas?

An entity that intends to terminate its legal existence or registration must satisfy filing requirements for all taxes administered by the Comptroller under Title 2 of the Texas Tax Code. In addition, all accounts for those taxes must be closed.