Texas franchise: Tiered partnership election
If the tiered Partnership election is made, any amount in Total Tax Due on Form 05-158 or 05-169 needs to be paid, and UltraTax CS will calculate the amount due on Form 05-170. For additional details on changes to the tiered Partnership, refer to the 2013 Franchise Tax Report Information and Instructions.
Upper tier entities aren't eligible to file a No Tax Due Information Report if the tiered Partnership election is made. In order not to have Form 05-163 print, go to the
Gen
screen, located under the General
folder in the TX input screens, and mark the Upper tier entity
box.
