Headquarters, Airport and Hotels
Irving packs three economies into one city. Las Colinas holds the headquarters of eight Fortune 500 companies, including McKesson, Caterpillar, Kimberly-Clark, Fluor and Celanese, along with regional offices for many more. The western edge of the city runs into DFW International Airport, with freight forwarders, cargo handlers and airline suppliers. And Irving has one of the largest hotel and convention trades in North Texas. Around them work thousands of small and mid-sized firms. BOMCAS prepares returns for Irving businesses remotely.
The Texas business tax page covers the franchise tax. Irving's contractors, forwarders and hotels are the focus here.
What Irving Companies File
There is no Texas or Irving income tax. Federal returns are filed on Form 1120, 1120-S or 1065, and every taxable entity files the Texas franchise tax report by May 15. Irving companies that sell services to clients nationwide, or have staff working in other states, often have income tax filings in those states as well.
Suppliers to the Big Campuses
Facilities, security, catering, IT, marketing and engineering firms serving Las Colinas headquarters often sign master service agreements with strict invoicing and payment terms of 60 days or more. The return depends on when revenue is recognised on long contracts, how retainage and rebates are handled and whether costs of winning contracts must be capitalised. Engineering firms working on projects for clients such as Fluor may have long-term contracts subject to special accounting rules.
Freight Forwarders and Airport Businesses
Forwarders, customs brokers, cargo handlers and ground service companies near DFW Airport collect freight charges, duties and fees on behalf of clients. These pass-through amounts should be separated from the company's own revenue in the books and on the return, and certain flow-through funds can be excluded from franchise tax revenue. Firms with foreign agents or parents have additional information returns.
Hotels and Event Businesses
Hotels around the Irving Convention Center, Las Colinas and the airport, and event businesses that serve conventions and the Toyota Music Factory, carry large property, renovation and management costs. Cost segregation can accelerate deductions for parts of a hotel building, and some renovation work can be deducted as repairs. Hotel owners organised as partnerships need careful allocation of income and losses among investors.
Data Centre and Technology Contractors
Irving has a large concentration of data centres. Electrical, mechanical and construction contractors building and maintaining them handle large, fast projects with expensive equipment. Their returns depend on contract accounting, equipment depreciation and the correct treatment of materials. Technology consultancies, many founded by immigrants, often have H-1B employees, subcontractors and clients in several states.
Franchise and Family Businesses
Irving's diverse population runs many restaurants, convenience stores, grocery stores and franchised hotels. Family businesses often employ relatives and may hold real estate in a separate company. We review owners' salaries, rents between related companies and the qualified business income deduction.
Our Checklist
- Contract terms and revenue timing.
- Pass-through funds for forwarders.
- Hotel cost segregation and repairs.
- Out-of-state staff and filings.
- Related-company rents and owner pay.
- Franchise tax method and reports.
Starting the Return
Send us the accounting file, bank statements, prior federal and Texas filings, asset lists and major contracts. We review them, send one set of questions and go through the draft with you before filing.
Irving Business Tax Preparation Questions
Do Irving consultancies with clients in other states file there?
Often yes, especially when employees work in those states.
Can freight forwarders exclude pass-through charges?
Yes, pass-through amounts are not the forwarder's revenue, and some can be excluded from franchise tax revenue.
Can hotel renovations be expensed?
Some can be treated as repairs, and cost segregation can shorten the life of parts of a building.
Is there an Irving city income tax?
No. Texas and Irving have no income tax.
Talk to BOMCAS About Business Tax Preparation in Irving
A reliable return depends on contract and client-fund bookkeeping, payroll across shifts and states and hotel and sales tax filings. Owners carry their results to personal returns, growth decisions go to planning, missed filings to catch-up work and foreign owners to cross-border tax. Our Texas pages set out the state rules on personal returns, sales and hotel tax, bookkeeping, payroll, tax planning, catch-up filing and cross-border tax, and the Texas overview ties them together.
Whether it is a Las Colinas consultancy, an airport hotel or a family that just arrived, a short message is enough for BOMCAS to suggest where to start and what records a quote needs. Contact us through the contact page or the form below, call 780-667-5250 or email info@bomcas.ca. Each Irving service is linked from the Irving overview. Treat this page as general information rather than advice for your own case.