It says estimated due 1,000.00 and 100 penalty. I made no sales during this quarter, but forgot to report that. Will that make me pay the 1,000.00, or just the penalty?
2007-06-09 17:35:57 · 3 answers · asked by Tommy H 1 in Business & Finance ➔ Taxes ➔ United States
If it was for sales tax, just file a $0.00 return if you didn't have any sales.
A return is required whether or not you have any sales or not.
The estimated tax and the penalty should go away after you file.
2007-06-10 07:07:21 · answer #1 · answered by Wayne Z 7 · 0⤊ 0⤋
Sounds like this pertains to your state franchise tax. Who says Texas doesn't have a state income tax???
Talk to your CPA. Mine we unfiled for over a year. All I had to do was pay what was due. As far as I know, the state doesn't fine you (although I think they can). What they do is suspend your corporate privileges. Once you pay your tax bill your corporate previleges are reinstated.
2007-06-09 20:10:51 · answer #2 · answered by jim_elkins 5 · 0⤊ 0⤋
File your return with your disagreement of the findings. That should clear things up.
You didn't file a return so they filed one for you based upon past information.
2007-06-10 03:57:21 · answer #3 · answered by Steve 6 · 1⤊ 0⤋