Is your business operating in the state of Texas? If so, you may be required to file an annual Texas Franchise Report and pay the Texas Franchise Tax. This tax is based on your business’s net income, and the Texas Franchise Report is the document you use to report this information.
The “statute of limitations” refers to the time frame within which an individual may file a lawsuit after an alleged harm has occurred. In Texas, the statute of limitations for civil lawsuits varies depending on the type of case. Understanding the statute of limitations is important because once the deadline has passed, the right to sue or take legal action is usually lost, even if the harm was significant.
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