MAKING YOUR FRANCHISE TAX ACCOUNT CURRENT - 2024 REPORT YEAR

What Happens if My Account is Not Current?

If your franchise tax account is not current, you will be mailed a Texas Notice of Intent to Forfeit Right to Transact Business.

If the Comptroller’s office forfeits your entity's right to transact business in Texas, the forfeiture is reflected on the Comptroller’s public website; your entity will generally be denied the right to sue or defend in a Texas court; and each officer, director, partner, member or owner will be liable for certain debts of the entity.

Why is My Account Not Current?

The following applies to the 2024 report. Your franchise tax account is not current because of one or more of these situations:

you did not file a franchise tax report;
you did not pay the franchise tax due; and/or
you did not file your Public Information Report or Ownership Information Report.

If your entity is a member of a combined group, the reporting entity for the group may have failed to meet franchise tax requirements. Contact the reporting entity for your group to resolve the issue.

Making Your Account Current

Regardless of your entity’s annualized total revenue, you must file a Public Information Report or Ownership Information Report. However, depending on your entity’s annualized total revenue, you also may need to file a franchise tax report and submit a payment.

Public Information Reports are filed by corporations, limited liability companies (LLC), limited partnerships, professional associations and financial institutions. Ownership Information Reports are filed by all other legally formed entities.

Annualized Total Revenue at or Below $2.47 Million

If your entity’s annualized total revenue is at or below $2.47 million, you do not owe any tax; simply file your Public Information Report (Form 05-102) (PDF) or Ownership Information Report (Form 05-167) (PDF).

Note: If your report’s accounting period is more or less than 12 months, see our Reports and Payments FAQ on how to annualize total revenue. Annualized total revenue is only used to determine if you qualify for the no tax due threshold; it is not used in calculating the amount of franchise tax due.

Annualized Total Revenue Above $2.47 Million

If your entity’s annualized total revenue is above $2.47 million, you must:

file either the EZ Computation Report (Form 05-169) (PDF) or Long Form (Form 05-158-A and 05-158-B) (PDF) ; and
file your Public Information Report (Form 05-102) (PDF) or Ownership Information Report (Form 05-167) (PDF); and
pay any tax, penalty and interest due.

Other Entities

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 Changes To The No Tax Due Reporting For 2024 Reports webpage.

How to File and Pay Franchise Tax

You can file your reports and pay any tax due:

online electronically through Webfile;
by mailing Franchise Tax Forms;
in person at a local Comptroller Field Office; or
using tax preparation software.

Locating Your Webfile Number

If you have not already set up your Webfile account, you will need your eight-digit Webfile number (begins with XT) and your 11-digit Texas taxpayer number to do so. If you received a notice or filing reminder from our office, look for the Webfile number at the top of the form.

If you are unable to locate your Webfile number, you can contact our Electronic Reporting and Webfile Technical Support Department by email.

Additional Franchise Tax Information

The Comptroller’s Franchise Tax webpage has additional tax information, including rules, statutes, publications and frequently asked questions. Visit our Contact Us webpage to find additional contact information.

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