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Common questions about Texas Form 05-102 in Lacerte

by Lacerte Tax 2023 Updated 3 months ago

This article will help with questions regarding the Form 05-102, Texas Franchise Tax Public Information Report.

Table of contents:

Who must file the 05-102?

A separate PIR is to be filed for each corporation, LLC, limited partnership, professional association and financial institution that files a separate franchise tax report or that is part of a combined group (unless the corporation, LLC, limited partnership, professional association or financial institution is not organized in Texas and does not have physical presence in Texas). Texas Franchise Instructions, Page 11
Changes to the registered agent or registered office must be filed directly with the Secretary of State, and cannot be made on this form. The changes can be made online or on forms downloaded from their website at: https://www.sos.state.tx.us/corp/forms_option.shtml

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How do I fill out the 05-102 in Lacerte?

The Lacerte tax program automatically produces the 05-102 for the following modules:

  • (1040) Individual
  • (1120) Corporate
  • (1120S) S-Corporate
  • (1065) A partnership that is a Limited Liability Company (LLC) files the 05-102
  • (1065) A partnership that is not an LLC's file the 05-167

Additional Input can be made in the following screens by module:

  • 1040
    • Section A - Input in Detail screen 54.434 - Section A Additional Texas Officers (Form 05-102)
    • Section B - Input in Detail screen 54.435 - Section B Owned Corporation (Form 05-102)
    • Section C - Input in Detail screen 54.436 - Section C Owning Corporation (Form 05-102)
    • Registered Agent - Input in Detail screen 54.437 - Texas Miscellaneous Information (Form 05-102)
  • 1120
    • Section A - Assign officers in Detail screen 2 - Officer Information.
      • Additional input in Detail screen 51.433 - Texas Section A Additional TX Officers
    • Section B - Owned Corporation input in Detail screen 51.434 - Texas Section B Owned Corporation
    • Section C - Owning Corporation input in Detail screen 51.435 - Texas Section C Owning Corporation
    • Registered Agent input in Detail screen 51.436 - Texas Miscellaneous Information
  • 1120-S
    • Section A - Assign officers in Detail screen 2 - Officer Information.
      • Additional input in Detail screen 49.433 - Texas Section A Additional TX Officers
    • Section B - Input in Detail screen 49.434 - Texas Section B Owned Corporation
    • Section C - Owning Corporation input in Detail screen 49.435 - Texas Section C Owning Corporation
    • Registered Agent input in Detail screen 49.436 - Texas Miscellaneous Information

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How do you indicate an affiliate of a combined return was not organized in Texas and does not have physical presence in Texas?

On the Texas Franchise Tax screen, check the box in the General section that indicates No nexus in Texas.

  • Individual - Screen 54.431, Texas Franchise Tax
  • Partnership - Screen 43.431, Texas Franchise Tax
  • Corporate - Screen 51.431, Texas Franchise Tax
  • S-Corporate - Screen 49.431, Texas Franchise Tax

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On Form 05-102, the names of officers are displayed twice. How do I fix it?

  1. On the Detail tab, go to Screen 43Other Forms
  2. On the left panel, select Texas Section A Officers under St. Other Forms
  3. Verify the names of the officers have not been entered in this screen if entered as a partner in Screen 7Partner Information with Partner an Officer? checked.

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Lacerte Tax

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