Texas Franchise Tax Report Filing InstructionsHow to file your Texas Corporations Section Franchise Tax Report:Texas does not have annual reports with the Secretary of State. It does have a gross receipts franchise tax report due every year. Texas has no personal income tax, thus it taxes it's businesses fairly heavy, on their gross receipts. Companies who pay over $10,000, must use the TexNet system to file electronically. You'll need to find your company on the website to pay. You can search for your name to find your 10 digit TX number. The most common form to file is the E-Z computation form # 05-169. This is the form to use if you have 10 million dollars or less of gross receipts. You can also file your franchise taxes via paper format. You can download the forms below. Mailing Address: When is the Franchise Tax Report Due?May 1st initially, and May 15th after that, every year. Initial reports are due within 1 year and 90 days from the entity organizing in Texas, or registering to do business in Texas.What is the cost to file the Texas Franchise Tax report?Most entities are 1% of gross receipts minus COGS. Entities using the E-Z computation form will usually get .575% of their receipts (.00575) .Basically you're first $300,000 of gross income will be tax free, and you won't have to pay any tax, but you still have to file. If you use the E-Z computation form, you can get about $434,000 tax free. Late fees?5% of tax owed. If not done within 30 days late, an additional 5% will be due.Payment options?Can pay by check in mail, or credit card through the online payment system.How do I get notified?You don't.Who can file Texas Franchise Tax reports?Anyone with authority.Are original signatures needed?No.Is an original report needed?No.You can file and pay online now at the Texas website: |
Northwest Registered Agent, LLC.
Agent# 801068184 Austin, TX 78701 Travis County
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Texas Franchise Tax Report Filing Instructions
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