Blank 5 359 Texas PDF Form

1. What is the purpose of the Texas Form 5 359?

The Texas Form 5 359, officially titled "Request for Certificate of Account Status to Terminate a Taxable Entity’s Existence in Texas or Registration," serves as a formal request for a certificate that verifies the status of an entity's tax accounts. This form is essential for entities that wish to dissolve their legal existence or registration in Texas. Before an entity can terminate, it must fulfill all tax obligations and ensure that all accounts related to taxes administered by the Texas Comptroller are closed. The form helps facilitate this process by providing the necessary information to confirm compliance with tax requirements.

2. Who needs to complete this form?

1. Failing to provide the entity's legal name accurately. This name must match the official records.

2. Not including the taxpayer number. This number is essential for identification and processing.

3. Overlooking the file number from the Texas Secretary of State. This number is critical for tracking the entity's status.

4. Incorrectly answering the question about being a member of an affiliated group. This can lead to filing errors.

5. Failing to provide the accounting year begin date if applicable. This date is necessary for compliance with tax regulations.

6. Neglecting to specify the filing type in Section B if the entity was formed in Texas. This information is crucial for processing the request.

7. Not indicating whether the entity is still conducting business in Texas. This affects the eligibility for termination.

8. Failing to provide the last day of business in Texas if applicable. This date is needed for accurate record-keeping.

9. Omitting the home state documentation if the entity's charter has been terminated. This documentation is necessary for the request.

10. Choosing an incorrect method for receiving the certificate. Ensure that the selected option aligns with the entity's needs.

When navigating the process of terminating a taxable entity’s existence in Texas, several forms and documents may accompany the 5 359 Texas form. Each of these documents serves a specific purpose and is essential for ensuring compliance with state regulations. Below is a brief overview of these forms.

• Form 05-158 - This form is the “Franchise Tax Status Report.” It provides details about an entity's current franchise tax status, which is crucial for confirming whether all tax obligations have been met before termination.
• Form 05-167 - Known as the “Franchise Tax Report,” this document must be filed annually to report the entity's income and expenses. It is essential to ensure that all tax filings are up to date before proceeding with termination.
• Form 05-169 - The “Franchise Tax Application for Extension” allows entities to request an extension for filing their franchise tax report. This form can be critical for entities needing more time to meet their tax obligations.
• Certificate of Formation - This document is filed with the Texas Secretary of State when a business is initially created. It may be required to show proof of the entity’s formation and legal standing during the termination process.
• Certificate of Good Standing - This certificate verifies that an entity is authorized to do business in Texas and has complied with state regulations. It can be necessary to ensure there are no outstanding issues before termination.
• Home State Documentation - For entities formed outside Texas, documentation from their home state may be required. This includes proof of termination or dissolution from the original state, which must be submitted along with the termination request.
• Form 05-177 - This is the “Request for Reinstatement of Certificate of Account Status.” If an entity’s certificate has been forfeited, this form is needed to request reinstatement before proceeding with termination.

Understanding these forms and their purposes can help streamline the process of terminating a taxable entity’s existence in Texas. It is always wise to ensure that all necessary documentation is in order to avoid delays and complications.

The 05-359 Texas form serves a specific purpose related to the termination of a taxable entity’s existence or registration in Texas. However, it shares similarities with several other documents that are also involved in business entity management and tax compliance. Here’s a look at eight documents that are comparable to the 05-359 form:

• Form 05-357: Application for a Texas Franchise Tax Exemption - This form is used by entities seeking exemption from franchise tax. Like the 05-359, it requires specific information about the entity and its tax status.
• Form 05-358: Texas Franchise Tax Report - This document is submitted annually by taxable entities to report income and calculate tax owed. It shares the focus on compliance with Texas tax regulations, similar to the 05-359.
• Form 05-360: Request for Reinstatement of a Forfeited Entity - Entities that have lost their right to do business in Texas can use this form to request reinstatement. Both forms address the status of an entity's registration and compliance with tax obligations.
• Form 05-361: Certificate of Account Status - This certificate verifies whether an entity is current on its tax filings. It is closely related to the 05-359, as both deal with the entity's standing with the Texas Comptroller.
• Form 05-362: Statement of Information - This form requires entities to provide updated information about their operations. Similar to the 05-359, it ensures that the state has accurate data about the entity.
• Form 05-363: Application for a Certificate of Good Standing - This document is requested by entities to confirm their compliance with state regulations. Like the 05-359, it is essential for entities planning to dissolve or merge.
• Form 05-364: Notice of Intent to Dissolve - This form is filed by entities that plan to dissolve their business. It shares the theme of ending an entity’s existence, much like the 05-359.
• Form 05-365: Amended Franchise Tax Report - If an entity needs to correct a previously filed tax report, this form is used. It relates to maintaining accurate records, akin to the purpose of the 05-359 in ensuring compliance before termination.

Each of these documents plays a role in the lifecycle of a business entity in Texas, particularly in relation to tax obligations and compliance. Understanding their similarities can help entities navigate the complexities of business regulations in the state.

When filling out the 5-359 Texas form, it is essential to follow specific guidelines to ensure a smooth process. Below is a list of things you should and shouldn't do:

• Do provide the entity's legal name accurately.
• Do include the taxpayer number and file number from the Texas Secretary of State.
• Do indicate whether the entity is part of an affiliated group that requires a combined report.
• Do check the entity's accounting year begin date against the combined group's date.
• Don't skip any sections that apply to your entity, especially if it was formed outside Texas.
• Don't forget to provide documentation if the home state charter has been terminated.
• Don't leave the contact information section incomplete, as this may delay processing.
• Don't ignore the instructions regarding the preferred method of receiving the certificate.

Misconceptions about the 5 359 Texas form can lead to confusion and mistakes. Here are ten common misconceptions explained clearly:

1. Only Texas entities need to fill out this form. Non-Texas entities must also complete the form if they are terminating their registration or existence in Texas.
2. This form is only for tax-related issues. While it does relate to taxes, it also addresses the legal termination of an entity’s existence or registration.
3. Submitting this form guarantees immediate termination. The process involves eligibility review, and termination is not guaranteed until all requirements are met.
4. All tax accounts must be closed before submitting the form. While it is necessary to be current on tax requirements, the form can be submitted to request the status of accounts.
5. Only the entity’s owner can submit this form. An authorized agent can submit the form on behalf of the entity.
6. The form can be submitted without supporting documentation. If the entity has a terminated home state charter, appropriate documentation must be included.
7. Once submitted, the form cannot be changed. If there is an error, contact the Comptroller’s office to request corrections.
8. There is a specific deadline for submitting the form. While timely submission is important, there is no hard deadline unless specified by other regulations.
9. Receiving the certificate is automatic. The Comptroller will review the submission and notify you if additional information is required before issuing the certificate.
10. Faxing the form guarantees faster processing. All requests are processed in the order they are received, regardless of the submission method.

Understanding these misconceptions can help ensure a smoother process when dealing with the 5 359 Texas form. Always verify your information and consult with the appropriate authorities if you have questions.

Here are some key takeaways about filling out and using the 5 359 Texas form:

• The form is used to request a Certificate of Account Status to terminate a taxable entity’s existence in Texas.
• Before filing, ensure all tax accounts are closed and all tax requirements are met.
• To check your tax status or close accounts, contact the Comptroller at 1-800-252-1381 or 512-463-4600.
• Provide the entity’s legal name, taxpayer number, and file number from the Texas Secretary of State.
• If the entity is part of an affiliated group, additional information about the reporting entity is required.
• Specify whether the entity was formed in Texas or outside of Texas, as this affects the information needed.
• If the entity is no longer conducting business in Texas, indicate the last day of business.
• Choose how you would like to receive your certificate, whether by fax, email, or mail.
• File documents online using SOSDirect for quicker processing, but all requests are handled in the order received.

For more information, you can visit the Texas Comptroller's website or call the provided numbers.