Amarillo Business CPA AlternativeCPA Amarillo, and the May report is still filed
May is on the calendar and the report is still sitting there, even when nothing is owed. May still means the franchise report, even in a year when margin tax is zero. The county rates are a separate sheet. You leave that first conversation with a yes or a no on the report, and the rates stay on their own sheet.
Read the sheet
The calendar page is already on May and the report is still the thing in front of you. The 15 May report date stays put when the hotels fill and when they do not. The franchise report does not take the week off, and neither does a county notice that arrived in the same season.
What still gets filed when the tax is zero
Zero margin tax does not retire the report. The report is filed anyway. Margin tax falls away at 2,650,000 dollars of revenue. Moving goods, and only goods, is the lower figure, 0.375 percent. Doing the work yourself is the higher figure, 0.75 percent. The compensation the franchise math is allowed to count stops at 480,000 dollars. Once revenue passes 20 million dollars, the EZ rate on the same sheet is 0.331 percent. The annual report date is 15 May. Those figures are the ones copied for the report years they cover. A public page does not turn those copied rates into a bill for one owner.
Sales tax is a different column from property tax. Inside the recorded city point the sales stack is 8.25 percent, state plus city, with no county sales piece. Property tax is where Potter and Randall part ways. Potter's county rate is 0.59024 per 100 dollars. Randall's is 0.40099 per 100 dollars. One May can ask you to be fluent in both. A year with no margin tax still has the report, and a zero is not a reason to skip it.
The rows, without a client's amounts
What the file records
Figure
State sales piece
6.25 percent
City sales piece
2 percent
Locator total
8.25 percent
City hotel occupancy
7 percent
Potter county rate
0.59024 per 100 dollars
Randall county rate
0.40099 per 100 dollars
Rendition
15 April, or 15 May after a written request
Protest
15 May, or 30 days after the notice
No tax due revenue
2,650,000 dollars
Annual report
15 May
The marked row is the state sales piece. Your notice can name Potter or Randall. No client amount is on this sheet.
School districts sit underneath those rows as geography, not as value. Amarillo ISD, Canyon ISD, and Highland Park ISD each cover a different piece of the two counties. An owner in one district can sit a mile from an owner in the other, and the May report still follows the district the notice names. The notice that names a district is the row that matters for you.
Ask which rows line up with the notice you are holding. The answer names those rows, and it says whether the report is still open.
The close that feeds the report is the same close that feeds the return. If April's bank statement and the register do not match, May's report is being built on a month that is not finished. We would rather move the conversation to the unreconciled month than file a confident zero on top of it. Zero can be the right tax and still be the wrong report if the revenue line was guessed.
School districts do not change that order. The map is geography. The notice that names a district is the fact. We will say which district the notice is pointing at, and we will not average Potter with Randall to make the answer sound tidy.
Ask which rows are yours
The answer names the rows that line up with the notice.
You will be talking to the Steven Palmieri practice.