Texas Franchise Tax Reports are due June 15, 2021.
The due date for Texas businesses to file their Texas Franchise Tax Reports is June 15th this year. The normal due date of May 15th was extended due to COVID. You can file your Franchise Tax Report along with the Public Information Report at the Texas Comptroller's website. The no tax threshold is revenue of $1,180,000.00. Please note that if you file late, you may be subject to a late fee, even if there is no tax due. There is nothing worse than paying a late fee when no taxes were due, so be sure to file timely. Also, be sure to note any changes in Officers or Directors of the company when completing your Public Information Report.
Remember, filing your Franchise Tax Report and Public Information Report is mandatory. If an entity fails to file either the Franchise Tax Report or Public Information Report, the entity may be forfeited. This means that you will lose all the protections of having an LLC or corporation until the entity is reinstated.