But you still have to file the Franchise Tax Report (the “No Tax Due Report”, which much be filed online) as well as your Public Information Report (PIR). So you’re just sending the state paper (or filing online); not money. Hope that helps :) For those reading this in the ...
February 8, 2021: Sports franchises in the state found the Texas Sports Betting Alliance organization to encourage Texas politicians to allow Texas sports betting. January 14, 2021: A Texas sports betting bill, HB 1121, is introduced by Rep. Harold Dutton. November 25, 2020: Las Vegas Sands...
Texas LLCs that make over a certain revenue threshold must pay a franchise tax. LLCs that fall below the threshold must file a No Tax Due Report. Failing to file these annual reports can result in penalties or losing your LLC’s good standing with the state, so it’s crucial to stay ...
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An extra 10% penalty: If you pay the tax more than 30 days late. Interest on past due taxes: If you pay the tax more than 60 days late.For reports due in January 2024 and onwards, any businesses generating annual revenues at or below the “No Tax Due” threshold of $2.47 million ...
Your franchise tax liability in Texas depends on your business type and revenue. The franchise tax rate, threshold, and deduction limits vary annually. For more information, check out the Texas Comptroller’s website. What documents are required to set up an LLC in Texas? There are several...
Is your favorite franchise boiling hot or below freezing? We take the temperature of every club with a brand-new number. Bradford Doolittle » Ramirez keeps rolling along and is finally no longer underrated (even though everyone still tries to call him underrated). In 2024, he matched his ...
Texas LLCs that make over a certain revenue threshold must pay a franchise tax. LLCs that fall below the threshold must file a No Tax Due Report. Failing to file these annual reports can result in penalties or losing your LLC’s good standing with the state, so it’s crucial to stay ...
In addition to the PIR, your LLC may need to file additional reports, such as the Franchise Tax Report. Texas LLCs that make over a certain revenue threshold must pay a franchise tax. LLCs that fall below the threshold must file a No Tax Due Report. Failing to file these annual reports...
Yes, LLCs in Texas are required to pay taxes at both the state and federal levels. This includes an annual state franchise tax and sales tax, among others. It’s crucial to understand your LLC’s tax obligations and to stay compliant with all applicable tax laws. Consult with a tax prof...