In Texas, failure to file any required tax report by the due date incurs a $50 late fee, regardless of whether you owe any taxes or not.  But even more importantly, failure to file an annual report can have devastating consequences for your business. If you don’t file a PIR in Texas, you could forfeit your right to do business in the state, and any debts held by the business could become the responsibility of the owners, officers, directors, and managers.

The following must be included on your Texas PIR: The business name and taxpayer number. The Texas Secretary of State (SOS) file number or Texas comptroller file number. The mailing address on file. The address of the principal office (where records are kept), as well as the address of the principal place of business (where most day-to-day operations happen). The names, addresses, titles, and term expiration dates for each officer, director, manager, and member. The name and address of the registered agent. The names of any subsidiaries. For the purposes of a PIR, subsidiaries are def

Not all business entities need to file an annual report in Texas, but many do. If your entity was formed as a limited liability company, corporation, limited partnership, professional association, or financial institution and is organized in Texas, you need to file a PIR. Even if your business entity wasn’t organized in Texas, a PIR may still be required if it has a nexus in Texas, meaning it meets the requirements to be taxed by the state. Certain business entities are exempt from filing an annual report. These include: Tax-exempt entities, such as 501(c) organizations or religious or cha