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Business entities to include Regional Advisory Councils must file and maintain a registered agent and office with the Texas Secretary of State. To meet the requirements of filing and maintaining Franchise Tax Certification of Account through the Texas Secretary of State office and the Comptroller of Public Accounts, the following issues are stipulated to meet requirements. 1. The registered agent should be a named individual associated with the council and be a responsible party the Office of Se.

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No Tax Due Threshold For reports originally due on or after Jan. 1, 2024, the no tax due threshold is increased to $2,470,000 and entities whose annualized total revenue from their entire business is less than or equal to that amount are no longer required to file a No Tax Due Report.

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.

Each taxable entity formed in Texas or doing business in Texas must file and pay franchise tax.

An entity reinstating and simultaneously terminating its existence or registration with the Texas Secretary of State must provide a certificate of account status showing that all franchise taxes have been paid and the entity is eligible to reinstate and terminate or withdraw.

Our office will mail a written notice of a modification or revocation to the taxpayer's address as it appears in Comptroller records. If there are no Comptroller records, the notice will be mailed to the contact information provided in the private letter ruling request.

Besides the loss of your corporate privileges within the state of Texas, legal entities will also face fines, penalties, and interest for not paying Texas franchise tax. If you do not file your franchise tax report, you will face a $50 fine.

Minimum Franchise Tax There is no minimum tax requirement under the franchise tax provisions. Additionally, an entity that calculates an amount of tax due that is less than $1,000 is not required to pay any tax. (See the section on Tiered Partnership Election for the tiered partnership exception.)

Texas imposes a franchise tax on taxable entities for the privilege of doing business in the state. The franchise tax is calculated based on the LLC's revenue with some sort of deduction. The franchise tax must be paid by any entity that meets the threshold for that year.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232