New Member

posted Jun 4, 2019 3:13:30 PM

Must I file a State Business Return (for Texas) on my wife's Complex Trust for 2018 and, if so, why?

It is not a Business and has no Employees. Its' only income is from Mutual Fund Investments.

0

1

4125

1 Best answer

Level 15

Jun 4, 2019 3:13:33 PM

"Must I file a State Business Return (for Texas) on my wife's Complex Trust for 2018 and, if so, why?"

Texas does not have an individual state income tax nor does the state have an actual income tax for trusts. However, the state does have a franchise tax you may have to file unless the trust is a grantor type trust.

See https://comptroller.texas.gov/taxes/franchise/forms/2019-franchise.php

1 Replies

Level 15

Jun 4, 2019 3:13:33 PM

"Must I file a State Business Return (for Texas) on my wife's Complex Trust for 2018 and, if so, why?"

Texas does not have an individual state income tax nor does the state have an actual income tax for trusts. However, the state does have a franchise tax you may have to file unless the trust is a grantor type trust.

See https://comptroller.texas.gov/taxes/franchise/forms/2019-franchise.php