Before you start:
- If the Texas Franchise forms are for a single member LLC in the 1040 return see Generating and e-filing a single member LLC in ProSeries
- For assistance in determining which of the Texas Franchise Form your client needs see Understanding Texas Franchise Tax forms
Installing the Texas Franchise Forms:
- From the Update menu, choose Select and Download New Products.
- On the TX line check the box under the 1120 column.
- Select Next.
- When the update is finished ProSeries will re-open and you'll now have the Texas Forms.
Accessing the Texas Franchise Forms:
- Open the Federal return.
- From the File menu, select Go to State/City.
- Select TX Franchise Tax Report.
- Click OK.
Generating the forms:
- Open the Franchise Tax Information Worksheet.
- In Part II enter the ID numbers for the business.
- Under Type of return to be filed select Franchise or Bank.
- Under Select applicable boxes check the box for 05-102 or 05-167.
- Open the Texas Revenue And Gross Receipts Worksheet.
- Either check the box at the top of the worksheet or enter the amounts in column (a) that are allocable to Texas.
- Open the Texas Margin and Tax Worksheet.
- Make any entries as needed.
- If the return meets the requirements to use the No Tax Due forms they will generate automatically.
- If no forms are generating review the ID numbers entered on the Franchise Tax Information Worksheet to ensure the are accurate. Invalid ID numbers will prevent the Texas forms from generating.