Texas Comptroller to grant extension to combined groups with loss carryforwards

myStateTaxOffice

The Texas Comptroller of Public Accounts announced, in a recent alert, that combined groups with preserved business loss carryforwards will be given an extension, from the announced October 31 deadline, to verify certain information or risk the loss of any temporary credit claimed on the 2008 through 2011 franchise tax reports and temporary credits available for future years. The Comptroller stated that it will mail a second notice "in the near future to those companies who did not meet the October 31 deadline. This letter will give taxpayers an additional 30 days to comply from the date of this letter."



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