05 166 2026

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  1. Click ‘Get Form’ to open the 05 166 document in the editor.
  2. Begin by entering your franchise information in the designated fields. Ensure that all details are accurate and up-to-date.
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Each taxable entity formed in Texas or doing business in Texas must file and pay franchise tax.
Key Takeaways: Texas single member LLCs are not required to file an annual report but must submit an annual franchise tax report. Franchise taxes are based on net surplus and vary depending on the LLCs income.
The EZ Computation multiplies the portion of an entitys gross receipts that occurred in Texas by a definition of Total Revenue (youll need the filing document to calculate Total Revenue), by the EZ Computation Rate.
If the tax due is less than $1,000, but annualized total revenue is greater than the no tax due threshold, a franchise tax report supporting that no tax is due (Form 05-158, Texas Franchise Tax Report, or Form 05-169, Texas Franchise Tax EZ Computation Report) must be filed.
For the 2025 Franchise Tax Report, the no tax due threshold is $2,470,000 and entities whose annualized total revenue from their entire business is less than or equal to that amount are not required to file a No Tax Due Report.

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Each taxable entity formed as a corporation, limited liability company (LLC), limited partnership, professional association and financial institution that is organized in Texas or has nexus in Texas must file Form 05-102, Texas Franchise Tax Public Information Report (PIR) annually to satisfy their filing requirements.
You must obtain a Texas sales and use tax permit if you are an individual, partnership, corporation or other legal entity engaged in business in Texas and you: Sell tangible personal property in Texas; Lease or rent tangible personal property in Texas; Sell taxable services in Texas; or.

form 05 166 texas 2022