Dallas-Fort Worth Real Estate Investor Club

franchise tax

  • 05 Mar 2016 5:20 PM
    Quote
    Message # 3863335
    Deleted user
    I'm looking into doing the franchise tax filing online, and the Texas Comptroller's site says "You will need to have the Texas taxpayer ID number(s), WebFile number(s) (printed on correspondence you received via mail from the Comptroller's office) and know the SIC and NAICS codes for your business."


    I have no clue about the SIC and NAICS codes.  Does anyone have an entity that just buys real estate and collects rents?  If so, do you know what these codes are?

    Thanks,

    Michael
  • 06 Mar 2016 8:34 AM
    Quote
    Reply # 3864139 on 3863335
    Deleted user

    SIC should = 60-67

    NAICS should = 53 (or maybe 531, but I'd go w 53)

    Greg

    Greg Wilson

    The REI Mentor
  • 06 Mar 2016 11:20 AM
    Quote
    Reply # 3864315 on 3863335
    Deleted user

    Thanks, Greg!

    I think SIC code 65 is a good fit.  It says "This major group includes real estate operators, and owners and lessors of real property, as well as buyers, sellers, developers, agents, and brokers."

    Last modified: 06 Mar 2016 11:33 AM | Deleted user
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