I live in the state of Texas. I know that Texas Taxpayer ID must be filed quarterly. What about business income tax? Is this filed annually?
Also, please verify that my understanding is correct. Let's say my business sells 1 item at $100 profit. That item is sold to a person residing in a different state where I do not have Nexus. There is no sales tax so my Texas Taxpayer filing report is $0. There is a profit so my annual business income tax file says I made $100. Is this correct?