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Tag: Texas franchise tax
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 […]
Texas Franchise Tax: What Founders Must File by May 15v
Introduction Texas imposes a franchise tax on most entities “doing business” in the state. Under Texas Tax Code §171.002, any corporation, LLC, or other taxable entity with revenue above the no-tax-due threshold must file an annual franchise tax report and Public Information Report by May 15, 2025. Founders should understand what forms are required, how […]
Texas Tax Laws: Why Businesses & Individuals Move to the Lone Star State
Introduction Texas has become one of the most popular destinations for businesses and individuals looking to take advantage of its low-tax environment, strong economy, and business-friendly policies. With no state income tax and a relatively simple tax structure, many people and companies are relocating to Texas to maximize financial benefits. This guide explores why Texas […]
Texas vs. Florida: Which State Offers Better Tax Benefits?
Introduction Texas and Florida are two of the most tax-friendly states in the U.S., making them attractive for residents, retirees, and business owners. Both states do not have a state income tax, but they differ in other tax policies, including property taxes, sales taxes, and business taxes. This guide compares Texas and Florida’s tax benefits […]
Texas Franchise Tax: What It Is & How to Calculate It
Introduction Texas does not impose a corporate income tax, but businesses operating in the state may be subject to the Texas Franchise Tax. This tax applies to certain businesses based on their gross revenue rather than their net profits. This guide explains who must pay the Texas Franchise Tax, how to calculate it, and how […]
Texas Franchise Tax: Who Needs to Pay & How to File
Introduction Texas does not have a state income tax, but it does impose a franchise tax on businesses. The Texas Franchise Tax is a gross receipts tax applied to businesses earning over a certain threshold. This tax helps fund state services, infrastructure, and education. This guide explains who must pay Texas Franchise Tax, how to […]
Texas vs. Florida: Which State Is Better for Tax Savings?
Introduction Texas and Florida are two of the most tax-friendly states in the U.S., making them attractive for residents, retirees, and business owners. Both states do not have a state income tax, but they differ in other tax policies, including property taxes, sales taxes, and business taxes. This guide compares Texas and Florida’s tax benefits […]
What Taxes Do You Pay in Texas? A Full Breakdown
Introduction Texas is known for being one of the most tax-friendly states in the U.S. because it does not have a state income tax. However, Texas still imposes various other taxes on businesses, homeowners, and consumers to generate revenue. This guide provides a complete breakdown of Texas taxes, including sales tax, property tax, franchise tax, […]