And your LLC will only owe Franchise Tax if your LLC makes more than $2.47 million per year. When are the Franchise Tax and PIR due? All LLC Franchise Tax Returns and Public Information Reports are due by May 15, every year. When are my first Franchise Tax and PIR due? Your first ...
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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 ...
Note: Even though Public Information Reports are often filed by businesses alongside their franchise tax, they are still due even if you don’t need to pay the franchise tax. File an Annual Franchise Tax ReportIn addition to a PIR, your Texas LLC will also be required to pay franchise tax...
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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...
This report helps the state keep up-to-date records of your LLC and must be filed by May 15 of each year. 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 ...
This report helps the state keep up-to-date records of your LLC and must be filed by May 15 of each year. 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 ...