05-158 Texas Franchise Tax 2021 Annual Report-2025

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  1. Click ‘Get Form’ to open the 05-158 Texas Franchise Tax 2021 Annual Report in the editor.
  2. Begin by entering your taxpayer number and report year at the top of the form. Ensure that you also fill in the due date, which is May 16, 2022.
  3. Complete the taxpayer name and file number fields. Provide your mailing address, including city, state, country, and ZIP code. If applicable, blacken the circle for combined reports or if your address has changed.
  4. In the revenue section, input whole dollar amounts for gross receipts, dividends, interest, rents, royalties, gains/losses, and other income. Calculate total gross revenue by adding these amounts.
  5. Proceed to fill out costs of goods sold and compensation sections accurately. Make sure to follow instructions for any deductions or adjustments as needed.
  6. Finally, review all entries for accuracy before saving your completed form. Utilize our platform’s features to sign and distribute your document seamlessly.

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Form 05-158: Texas Franchise Tax Report print requirements. Form 05-158 will only print if the return doesnt qualify for Form 05-163 or 05-169, and if the annualized total revenue is above the no tax due threshold.
In Texas, business entities must pay a franchise tax to the State Comptrollers Office if they earn a certain amount of revenue. A company with an annual gross receipt of more than $1.18 million in Texas is subject to franchise tax.
Each taxable entity formed in Texas or doing business in Texas must file and pay franchise tax.
The Texas Franchise Tax Report Form 05-158 is essential for businesses to report their financial data to the Texas Comptroller. This document helps in calculating the franchise tax owed by the entity for the reported year. Accurate submission ensures compliance with state tax regulations.
The franchise tax report determines how much tax your Texas limited liability company (LLC) or corporation owes, as well as keeping your information up to date in state databases.

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You can complete the entire filing process on the Franchise Tax section of the Texas Comptroller website. Or, you can download the necessary Form 05-102 and fill it out by hand.
All entities (except passive entities) with annualized total revenue above the no tax due threshold that do not file using the EZ Computation method have to file the Long Form, 05-158-A and 05-158-B, Franchise Tax Report.

texas form 05 158