Tax Expert Today LLC
Tax Expert Today LLC is an American accounting and tax advisory firm in Naples, Florida.
Does Texas have an income tax?
“No. Texas is one of nine states with no individual, corporate, or business income tax.”
View in the company profileWhat is the franchise tax no-tax-due threshold?
“For 2024, if your gross revenue is less than $2.47 million, you owe no franchise tax. The threshold increases annually. If you exceed the threshold, you owe franchise tax on the full gross revenue, not just the excess over the threshold. Every client situation is different, so call (239) 441-2005 to review your specific facts before acting on this guidance.”
View in the company profileDo I need to collect sales tax on out-of-state sales to Texas customers?
“If you have sufficient nexus in Texas (sales above certain thresholds), you must collect Texas sales tax. The Wayfair rule makes it mandatory for most remote sellers. We advise on nexus and collection obligations if you sell to Texas customers. Every client situation is different, so call (239) 441-2005 to review your specific facts before acting on this guidance.”
View in the company profileShould I elect S-corp treatment for my Texas LLC?
“It depends. Since Texas has no state income tax, the main benefit of S-corp election is federal self-employment tax savings.”
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