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This article applies to:

  • Product: ONESOURCE Income Tax
  • Return type: 1120 Corporation,1065 Partnership
  • State: Texas
  • Subject: Print requirements

Form 05-158 print requirements

Form 05-158 only prints if the return doesn't qualify for Form 05-163 or 05-169, and if the annualized total revenue is above the no tax due threshold.
To print the Form 05-158, Franchise Tax Report:
  1. Select
    Tax Forms
    States
    Texas
    .
  2. Select
    Form 05-158
    , then
    Franchise Tax Report
     folder.
  3. Select
    05-158-A, Franchise Tax Report
    Page 1
    Print 05-158
     to see a list of forms that will print.
  4. Go to
    Organizer
    States Franchise Tax
    Texas Franchise
    .
  5. Make sure the accounting year end date is present.
If the form doesn't print, make sure it isn't suppressed:
  1. Go to
    Organizer
    States
    Common State
    .
  2. Select
    Print Options
    , then
    Print Suppression
    .
  3. Go to the
    Suppression SC-Cities
     tab.
  4. Make sure
    Texas
     is cleared in the
    State Forms
     column.
note
  • By default, only the 05-102 is checked the other 2 can be included if the requirements are met.
  • Form 05-158 will only print if the return doesn't qualify for Form 05-163 or 05-169.
  • If the total annualized revenue is $20 million or less, then Form 05-169 will print.
  • If the annualized total revenue is lower than the non-tax due threshold, Form 05-102 prints instead of Form 05-158.
  • Form 05-158 is in the Long Form section. These forms only apply if any entity doesn't elect to file using the EZ Computation, or that doesn't qualify to file a No Tax Due Report, should file the Long Form report.

Gross receipts

To determine how the everywhere gross receipts amount is calculated on Form 05-158, Page 2, Line 25:
  1. Go to
    Tax Forms
    Texas
    05-158, Page 2, Line 25
     to view the everywhere gross receipts amount.
    note
    This amount is pulled from Page 1, Line 10 - Total Revenue, and does not pull from everywhere sales in the Allocation & Apportionment area.
  2. Review the Texas 05-158 instructions for
    Item 25, Gross receipts everywhere
    , for more details.
    note
    Any item of revenue excluded from total revenue (Item 10) must not be included in computing gross receipts everywhere, and for most entities, gross receipts everywhere will equal the amount reported in Item 10 unless costs excluded from total revenue must be added back, including:
    • $500 for pro bono cases
    • the actual cost of uncompensated care
    • the direct cost of providing waterway transportation
    • the cost of a vaccine
  3. Determine whether the return qualifies as a lending institution or security broker/dealer. In accordance with Texas Tax Code Sections 171.106(f) and (f-1), qualified lending institutions and security broker/dealers may use the gross sales price of securities or loans sold instead of the net gain/loss on the sale in computing gross receipts everywhere.
  4. Confirm which items are included in gross receipts everywhere:
    1. all sales of tangible personal property
    2. all rentals
    3. all services
    4. all royalties
    5. all other business receipts
    6. all dividends and interest
    7. and the net gain/loss from the sales of investments or capital assets, noting that a capital asset is any asset, other than an investment, which is held for use in the production of income, and is subject to depreciation, depletion or amortization, while an investment is any non-cash asset not a capital asset.
  5. If the return meets one of the exceptions, override the calculation on Line 25.

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