Texas Franchise Tax — Who Files, the No-Tax-Due Threshold, and Which Form
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Taxable entities include LLCs, corporations, Scorporations, partnerships (except certain general partnerships owned solely by natural persons), and professional associations formed in or doing business in Texas. Sole proprietorships are not subject to the tax. The annual report is due May 15 (next business day if a weekend/holiday). Tex. Tax Code ch. 171.
- Report years **2026–2027: $2,650,000** annualized total revenue.
- Report years **2024–2025: $2,470,000**.
- Beginning with 2024 reports, the separate "No Tax Due Report" was discontinued: an entity at or below the threshold files **only** a Public Information Report (corporations/LLCs) or Ownership Information Report (other entities) — no tax report and no tax.
- Qualifying new veteran-owned businesses are exempt for their first five years.
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