Preserving Franchise Tax NOLs
I received my form from the Comptroller this week: Texas Franchise Tax Preservation of Temporary Credit. If you have any losses that you were carrying forward for Texas Franchise Tax purposes, don't throw this form away. Fill it out and send it in. If you don't, you will lose any benefits from those prior losses when it comes to the "new" Texas Franchise Tax -- lovingly christened "the margin tax."
