Does My Texas Business Owe Franchise Tax? STOP WORRYING!

Описание: Texas Franchise Tax is assessed on all entities in Texas, but you likely do not have any tax due.

While you are still required to file your Franchise Tax report every year, you probably don't owe any Franchise Tax if you are reading this right now. Franchise Tax is only assessed on those businesses in Texas that generate more than $1.8M in revenue. However, don't forget to file your report that says you don't owe any Franchise Tax--There can be serious consequences if this is not filed on an annual basis for your business. Texas LLCs, PLLCs, and Series LLCs will need to file this annual report every year through the Texas Comptrollers Office.

Generally, my advice to clients is that if they are generating over $1.8M in revenue every year and don't have a dedicated accountant or CPA, we've probably got bigger problems to address than Franchise Tax.

The Law Office of Nathaniel Gilbert, PLLC in San Antonio, TX helps clients with LLC Formation including PLLCs and Series LLCs in Texas. For more about Nate, or to schedule a Free 15 Minute Consultation, follow this link: https://longilbert.com/

0:00 - Introduction to Franchise Tax in Texas
0:19 - No tax due if your entity makes less than $1.18 million.
1:05 - File the franchise tax report by May 15th even if no tax is owed.
1:26 - Seek help from a CPA or accountant for tax-related matters.
1:52 - Handling franchise tax notices and ensuring proper filing procedures.