Page 13 - Texas Franchise Tax Handbook

Calculation of the Tax (3/7)

Total Revenue

Total revenue is determined from

revenue amounts reported for
federal income tax minus

statutory exclusions.
A B

Exclusions from revenue include

F C the following:

• dividends and interest from

E D federal obligations;
• Schedule C dividends;

• foreign royalties and dividends
under Internal Revenue Code

Section 78 and Sections 951-964;

• certain flow-through funds; and

• other industry-specific
exclusions.