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Texas Franchise reports may be submitted electronically with approved tax preparation provider software.
Each taxable entity formed in Texas or doing business in Texas must file and pay franchise tax.
A Texas Annual Report is a yearly business report filed by companies conducting business in Texas.
The extension is in response to the recent winter storm and power outages in the state, and aligns the agency with the Internal Revenue Service, which extended the April 15, 2021 tax filing and payment deadline to June 15, 2021 for all Texas residents and businesses.
How to File Your Texas Franchise Tax Report Determine your due date and filing fees. Complete the report online OR download a paper form. (Paper forms not allowed for No Tax Due Information Report.) Submit your report to the Texas Comptroller of Public Accounts.
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Tax Rates, Thresholds and Deduction Limits ItemAmountNo Tax Due Threshold$1,230,000Tax Rate (retail or wholesale)0.375%Tax Rate (other than retail or wholesale)0.75%Compensation Deduction Limit$400,0002 more rows
Due Date An annual report is due May 15 of each report year. Report Year The year in which the franchise tax report is due. The 2021 annual report is due May 17, 2021.
How Do I File an Annual Report? OPTION 1: File Online With Texas Webfile. OPTION 2: File by Mail. Fee: Tax rates vary based on total revenue. Mailing Address: Due Date: Texas LLC annual reports are due by May 15 every year. Late Filings: Any annual report received after May 15 will result in a $50 late fee.
Texas Tax Code Section 171.001 imposes franchise tax on each taxable entity that is formed in or doing business in this state. All taxable entities must file completed franchise tax and information reports each year.
It uses a fiscal year (June 30) accounting period when reporting with the IRS. On its 2021 first annual franchise tax report, it enters its accounting year end date as 09/01/2021.

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