Texas Franchise Tax Report 2024 Instructions. Taxable entities with annualized total revenue at or below the no tax due threshold. One requirement for maintaining a limited liability company (llc) or corporation in the state of texas is filing the texas annual franchise tax report.
There were five types of entities eligible to file a no tax due report. Texas has made several changes that apply to report year 2024 (calendar year 2023) increasing the “no tax due” revenue.
Required Information For The Texas Annual Report.
One requirement for maintaining a limited liability company (llc) or corporation in the state of texas is filing the texas annual franchise tax report.
Beginning In 2024, Each Of These Entities.
The texas franchise tax system has been significantly reformed by senate bill 3, 83rd regular legislative session, via dramatic changes to the state’s franchise tax rules.
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Effective For Reports Originally Due On Or After Jan.
These changes are effective for reports filed in 2024 and forward.
In July Of 2023, The Texas State Legislature Passed A Bill Which Increased The No Tax Due Threshold And Eliminated Reporting Requirements For Certain Entities.