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Do you have to pay tax on money you receive from selling your business in Texas?
Wiki User
∙ 14y ago
Texas Administrative Code Franchise Tax Rule 3.546(c)(5), "disposing of any property in Texas," imposes a franchise tax on the business essentially selling itself. Texas does not participate in income taxation at the personal level. Before you sell or buy, you should obtain a Certificate of No Tax Due from the Comptroller of Public Accounts so that any unpaid tax does not become your liability.
Wiki User
∙ 14y ago
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E
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