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05-139, Texas Final Corporation Franchise Tax - Texas

05-139, Texas Final Corporation Franchise Tax - Texas 2026

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The document is a Texas Franchise Tax Report form (Form 05-139) that outlines the requirements for corporations to report their franchise tax obligations. It includes sections for taxpayer information, financial data, and instructions for filing, including details on combined group reporting and tax calculations. Additionally, it provides a request section for a Certificate of Account Status necessary for corporate dissolution or termination.

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Click ‘Get Form’ to open the 05-139 document in the editor.
Begin by entering your taxpayer number and report year in the designated fields. Ensure accuracy as this information is crucial for processing.
Fill in your legal name and mailing address. If your mailing address has changed, check the appropriate box and update the information.
Complete Section 1 by entering the beginning and ending dates of your reporting period. Refer to the instructions for specific date requirements.
Proceed to input financial figures such as gross receipts, federal taxable income, and any deductions. Follow the prompts carefully to ensure all calculations are correct.
Review all entries for accuracy before signing at the bottom of the form. This declaration confirms that all provided information is true and correct.

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Is Texas franchise tax no tax due report 2025?

The No Tax Due Report is not available for 2025 reports. Effective for reports due on or after Jan.1, 2025, an entity that has annualized total revenue less than or equal to the no tax due threshold of $2.47 million is not required to file a No Tax Due Report.

Do you need to file a final Texas franchise tax return?

Final Reports: An entity that ceases doing business in Texas for any reason (i.e., termination, withdrawal, merger, etc.) is required to file a final franchise tax report and pay any additional tax, if due.

Do corporations pay franchise tax in Texas?

The tax applies to corporations, limited liability companies, partnerships (general, limited and limited liability), business trusts, professional associations, business associations, joint ventures and other legal entities organized in Texas or that do business in Texas.

What is the threshold for filing taxes in 2025?

2025 Tax year filing threshold chart Filing StatusTaxpayer age at the end of 2025File a return if your gross income was at least this amount in 2025: Single under 65 $15,750 Single 65 or older $17,750 Head of Household under 65 $23,625 Head of Household 65 or older $25,6256 more rows Aug 12, 2025

What is the no tax due threshold for Texas franchise in 2025?

Effective for reports due on or after Jan.1, 2025, an entity that has annualized total revenue less than or equal to the no tax due threshold of $2.47 million is not required to file a No Tax Due Report.

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What is the tax threshold for an LLC in Texas?

Instead of an annual report, Texas requires LLCs to file an Annual Franchise Tax Return each year. While this is technically a tax, only businesses that make over $1.23 million in annual revenue will actually need to pay money. Businesses earning less than that just need to file a No Tax Due Report.

What happens if you dont file franchise tax in Texas?

A $50 penalty is assessed on taxpayers on each required franchise tax report filed after the report due date. This penalty is assessed regardless of whether any taxes or fees are due for the late-filed report period. This late-filing penalty is in addition to any other penalties assessed for the reporting period.

What is the no tax due threshold for Texas franchise tax?

The Texas no tax due threshold changes every two years (on even years). It was $1.23 million for 20222024, then took a big leap. For franchise tax reports originally due on or after January 1, 2024, the no tax due threshold is $2.47 million.

05-139, Texas Final Corporation Franchise Tax - Texas 2026

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Is Texas franchise tax no tax due report 2025?

Do you need to file a final Texas franchise tax return?

Do corporations pay franchise tax in Texas?

What is the threshold for filing taxes in 2025?

What is the no tax due threshold for Texas franchise in 2025?

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People also ask

What is the tax threshold for an LLC in Texas?

What happens if you dont file franchise tax in Texas?

What is the no tax due threshold for Texas franchise tax?

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05-139, Texas Final Corporation Franchise Tax - Texas 2026

Here's how it works

How to use or fill out 05-139, Texas Final Corporation Franchise Tax - Texas with our platform

See more 05-139, Texas Final Corporation Franchise Tax - Texas versions

Complete this form in 5 minutes or less

Got questions?

Is Texas franchise tax no tax due report 2025?

Do you need to file a final Texas franchise tax return?

Do corporations pay franchise tax in Texas?

What is the threshold for filing taxes in 2025?

What is the no tax due threshold for Texas franchise in 2025?

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People also ask

What is the tax threshold for an LLC in Texas?

What happens if you dont file franchise tax in Texas?

What is the no tax due threshold for Texas franchise tax?

Related links

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