Here is some good news on the Franchise tax credit or Franchise Tax Credit for Certified Rehabilitation of Certified Historic Structures Attorney
Texas law provides a franchise tax credit for the certified rehabilitation of certified historic structures, up to 25 percent of eligible costs and expenses.
However, to qualify for the credit:
The structure must be placed in service on or after Sept. 1, 2013;
The entity must have an ownership interest in the structure during the calendar year the structure was placed in service after the rehabilitation; and
The total amount of eligible costs and expenses incurred by the entity must exceed $5,000.
Every so often, you might find a way to save on taxes!
