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Use our online search to find a taxpayer's Franchise Tax Account Status. The "Franchise Tax Account Status," previously referred to as "Good Standing," provides the status of an entity's right to transact business in Texas.
Making Your Franchise Tax Account Current - 2024 Report Year; Look Up Account Status; Change a Business Address or Contact Information; Close or Reinstate a Business; Request a Tax Certificate or Tax Clearance Letter; Complete the Franchise Tax Accountability Questionnaire
File and Pay. Depending on the tax, Texas taxpayers may be required to electronically report (file) and/or pay based on the amount reported and paid in the preceding state fiscal year (September 1 to August 31). Webfile How-To Videos.
Why did I get a franchise tax notice? Texas Tax Code Section 171.001 imposes franchise tax on each taxable entity that is formed in or doing business in Texas. Taxable entities may need to file franchise tax and information reports each year.
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. Timely means the request is received or postmarked on or before the due date of the original report.
Forms for reporting Texas franchise tax to the Texas Comptroller of Public Accounts.
Taxpayers and tax preparers who have the franchise tax Webfile (XT) number or who have previously used Webfile for franchise tax and are registered with the SOS can request Certificates of Account Status for Termination or Withdrawal and Tax Clearance Letters for Reinstatement.
Learn how to resolve this issue and ensure your franchise tax account is current. If your entity's annualized total revenue for the 2024 report year is at or below the no tax due threshold of $2,470,000, you are not required to file a return, but you still must file either a Public Information Report or an Ownership Information Report.
Franchise tax reports are due on May 15 each year. If May 15 falls on a Saturday, Sunday or legal holiday, the next business day becomes the due date. The Comptroller’s office will tentatively grant an extension of time to file a franchise tax report upon timely receipt of the appropriate form.
The Texas franchise tax is a privilege tax imposed on each taxable entity formed or organized in Texas or doing business in Texas. What does an entity file if it is ending its existence or no longer has nexus?