Texas has responded to the South Dakota v. Wayfair Supreme Court Case by adopting an amended regulation that is effective December 29, 2019. This regulation now requires foreign entities to file Texas Franchise Tax Reports beginning January 1, 2020. This now extends nexus for the Texas franchise tax to all businesses doing business in the state of Texas that have $500,000 or more in gross sales in the state.
Please contact Kaitlin Pharr with any questions or concerns at 770-287-7800 or firstname.lastname@example.org. Stay tuned for more tax tips or follow them on our social media accounts every #TaxTipTuesday!