I am the manager of NU. LLC which is registered with Texas as LLC. It is a S-Corp and I file 1120-S for Federal Tax return through Turbo tax. I am also trying to file Texas Franchise Tax Return through Turbotax Business.
In Texas Franchise Tax Information Worksheet Part II I find problem in selecting applicable boxes.
The question is : Is this a corporation, LLC, LP or PA? Then it states : "An entity registered with Texas as a LLC fling Form 1065 should answer yes."
As I am not choosing form 1065 (I am filing 1120-S) I am supposed to check the box which states "No-Activates Form 05-167".
Turbotax has no option for this choice. Even if I check this box Turbotax checks box which states "Yes-Activates Form 05-102 " and completes that form.
I am confused. I will appreciate for help.