The No Tax Due Report is not available for 2024 reports. Effective for reports due on or after Jan.1, 2024, an entity that has annualized total revenue less than or equal to the no tax due threshold of $2.47 million is not required to file a No Tax Due Report.

In response, the Comptroller's office has changed the way some entities have to report for franchise tax purposes. For the 2024 report year and later, a taxable entity whose annualized total revenue is less than or equal to the No Tax Due Threshold is not required to file a No Tax Due Report.

Making Your Franchise Tax Account Current - 2024 Report Year and Later

taxnews.ey.comPrintShare: · Texas franchise tax exemption increases to $2.47 million in 2024 while no-tax-due reports are eliminated

January 16, 2024 - In July 2023, the Texas legislature passed Senate Bill 3, which increased the no tax due threshold and eliminated reporting requirements for certain entities. No Tax Due Threshold Increased to $2.47 Million from $1.23 Million · For reports ...

If a combined group’s annualized ... group that is organized in Texas or has nexus in Texas must file a PIR or OIR. Annualized Revenue Threshold: $2,470,000 for reports due in 2024-2025....

The calendar year 2024 will bring multiple changes to the Texas franchise tax. Taxpayers responsible for entities operating in Texas should be aware of these rules as they plan for their filing and payment obligations in the year ahead.

The Employee Information System (EIS) application is no longer available effective May 31, 2025. Please contact your agency Human Resource or Payroll representative for any questions or inquiries · To expedite the processing of your tax returns, please file electronically or use our preprinted ...

... Filing requirements for entities with zero Texas gross receipts, qualifying new veteran-owned businesses, qualifying passive entities and qualifying real estate investment trusts (REITs) have changed. See our See our Changes To The No Tax Due Reporting for Report Years 2024 and Later ...

May 7, 2024 - In November 2023, the Texas Comptroller ... apply to Report Year 2024 (calendar year 2023) increasing the “no tax due” revenue threshold from $1.23 million to $2.47 million and the removal of the No Tax Due Report requir...

March 19, 2024 - Texas ends the No Tax Due Report for 2024. Businesses under $2.47M in receipts must file a Public/Ownership Report instead. Learn more.

Texas Franchise Tax Reports for 2024 and Prior Years · 2024 report year forms and instructions · 2023 report year forms and instructions · 2022 report year forms and instructions · 2021 report year forms and instructions · 2020 report year forms and instructions ·

The file provides detailed information and instructions on how to prepare and submit the 2024 Texas Franchise Tax Report, including requirements, due dates, and exemptions.Get 2024 TX Franchise Tax Report Form

May 8, 2024 - Texas franchise reports are initially due May 15, 2024. An extension of time to file a franchise tax report will be tentatively granted upon receipt of an appropriate timely online extension payment or request on a form provided by the Comptroller ...

November 7, 2023 - The entities that can currently file a No Tax Due Report will report, or not report, as follows, beginning with the 2024 report. Taxable entities whose annualized total revenue is at or below the no tax threshold do not owe any tax and are not required to file a franchise tax report.

You must file and pay the Texas Franchise Tax by May 15, 2025. File Online with the Texas Comptroller eSystems. File by Mail must be postmarked by the due date. ... You must send payment for taxes in Texas for the fiscal year 2024 by May 15, 2025.

August 26, 2024 - You must send payment for taxes in Texas for the fiscal year 2024 by May 15, 2025. The Extension Deadline is November 15, 2025, to file your Texas Franchise Tax return.

March 24, 2025 - For franchise tax reports originally due on or after January 1, 2024, the no tax due threshold is $2.47 million. Texas discontinued the No Tax Due Report for 2024: A taxable entity with annualized total revenue less than or equal to $2.47 million ...

April 17, 2024 - However, starting in 2024, this requirement has been waived, making the filing process more streamlined for eligible businesses. EZ Computation and Long Form Reports are still required.

July 29, 2024 - This alert summarizes the guidance provided by the Texas Comptroller of Public Accounts in a recent policy memo, STAR Accession No. 202404005M (April 24, 2024), which updates and replaces the previous policy memo, STAR Accession No.