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Veteran Resources

SBA and NTSBDC have additional resources for Veterans. We partner with UTAVBOC who makes available training, resources, and connections for Veteran Entreprenuers, such as Boots to Business. Paris SBDC would love to be of assistance in your business start and recognizing your Veteran Owned Business. See info below for frequent info sought:

New Veteran-Owned Businesses and Texas Franchise Tax

A qualifying new veteran-owned business is not subject to franchise tax for its initial five-year period, but must file Form 05-163, Texas Franchise Tax No Tax Due Report (PDF), for each of those years. For more information, see Texas Tax Code Section 171.0005 and Rule 3.574, Margin: New Veteran-Owned Businesses.

To be considered a new veteran-owned business, an entity must:

  • be an entity formed or organized in Texas on or after Jan. 1, 2016, and before Jan. 1, 2020;
  • be 100 percent owned by a natural person or persons with each owner being an honorably discharged veteran from a branch of the U. S. Armed Services; and
  • provide a Texas Veterans Commission (TVC) issued Letter of Verification of Veteran’s Honorable Discharge for each owner.

The Comptroller’s office verifies this information. If during the initial five-year period, a new veteran-owned business no longer meets the above criteria, the business:

  • must notify the Comptroller’s office; and
  • becomes subject to franchise tax.

Verification Process for a New Veteran-Owned Business

For your new veteran-owned business to qualify for the five-year franchise tax exemption, you must complete three steps. Here are the steps to follow:

Step 1 – Request a Letter of Verification of Veteran’s Honorable Discharge from the Texas Veteran’s Commission (TVC)

Entrepreneurs, then “Veteran Verification Letter”

To receive a Letter of Verification of Veteran’s Honorable Discharge (which will include a unique alpha-numeric identification code), each veteran-owner must email a request, along with their Department of Defense Form 214 (DD214), to the TVC at sb1049@tvc.texas.gov. Please block out the Social Security number on the DD214 before emailing.

Each emailed request must include:

  • the date of the request
  • the veteran’s:
    • first name, middle initial, last name;
    • mailing address;
    • city, state, ZIP code;
    • telephone number;
  • the following statement: “In accordance with the verification provision of Senate Bill 1049 I am hereby requesting verification of my status as a Veteran of the United States Military.”
  • the veteran’s signature

Step 2 – Complete Comptroller Form 05-904

Link to certify as a VOSB or SDVOSB  https://www.va.gov/osdbu/

CVE certification if interested, not necessary unless seeking to do business with government entities or the VA.

Funded By

Paris SBDC is funded by a partnership of Paris Junior College, the U.S. Small Business Administration, and the State of Texas.  Advising Services are offered by the Paris SBDC without regard to race, color, age, national origin, religion, sex, or disability.  Special provisions will be made for limited-English speaking individuals and those with disabilities.  Questions? Call 903.782.0224

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Paris Junior CollegeSBA

ntsbdc

 

 

Satellite Offices

Call us for an appointment:  903.782.0224

 

Paris SBDC, Mary Gabbert Bldg, 1405 S Collegiate, Paris, TX 75460

Ronica Ingram, Business Recover Advisor, Paris, TX

 

GREENVILLE, TX

Tuesday, Wednesday, Thursday

Tiffani Franzoni, Business Recovery Advisor

Greenville Chamber of Commerce, Greenville, TX

SULPHUR SPRINGS, TX

Wednesday, Thursday, Friday 

Jim Struwe, Certified Advisor, EDFP

PJC- Sulphur Springs, TX

 

 

Get in Touch

Address:    2400 Clarksville Street, Paris, TX 75460

Phone:   903.782.0224

Email:    parissbdc@gmail.com

Web:     https://www.parissbdc.org

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