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Tag: Form 05-167
Step-by-Step: Completing the Texas Public Information Report
Texas Public Information Every Texas-taxable entity must file a Public Information Report (PIR) each year, even if no franchise tax is due. The PIR ensures the Comptroller’s office—and the public—has up-to-date ownership and contact information for corporations, LLCs, partnerships, and other entities with Texas nexus. Missing or incomplete PIRs can lead to notices, late-filing fees, […]
New $2.47 M “No-Tax-Due” Threshold Explained (and Who Still Files)
New $2.47 M “No-Tax-Due” Beginning with report years due on or after January 1, 2024, Texas more than doubled its “no-tax-due” threshold—raising it from $1.23 million to $2.47 million. This change, enacted by Senate Bill 3, relieves smaller businesses from owing any franchise tax, but it does not eliminate their filing obligations entirely. In this […]