Texas Franchise Tax Public Information Report (PIR) and Ownership Information Report (OIR) (2024)

FAQs

Who must file a Texas franchise tax public information report? ›

Each taxable entity formed as a corporation, limited liability company (LLC), limited partnership, professional association and financial institution that is organized in Texas or has nexus in Texas must file Form 05-102, Texas Franchise Tax Public Information Report (PIR) annually to satisfy their filing requirements.

The Public Information Report (“PIR”) and Ownership Information Report (“OIR”) – which are separate from the various Texas franchise tax return forms – provide basic information about a Texas entity including the entity's address and governing authority and must be filed with the Texas Comptroller annually, typically ...

The Texas Franchise Tax is levied annually by the Texas Comptroller on all taxable entities doing business in the state. The tax is based upon the entity's margin, and can be calculated in a number of different ways. Each business in Texas must file an Annual Franchise Tax Report by May 15 each year.

Instructions for each report year are online at www.window.state.tx.us/taxinfo/taxforms/05-forms.html. Mail original to: Texas Comptroller of Public Accounts P.O. Box 149348 Austin, TX 78714-9348 Taxpayers who paid $10,000 or more during the preceding fiscal year (Sept. 1 thru Aug.

A nonprofit corporation organized solely to promote the public interest of a city, county, town or other area within Texas is exempt from franchise tax.

Filing requirements

You need to file an information return with us if either of the following are: The recipient is a California resident or part-year resident . The source of an information return transaction was in California.

Each taxable entity that is legally formed as a corporation, limited liability company, professional association, limited partnership or financial institution files a public information report (PIR). Associations, trusts and all other taxable entities file the Ownership Information Report (OIR).

The PIR provides information to the Comptroller about the entity's officers, directors, ownership, or other authorized parties. There are serious consequences for those entities who fail to file the PIR within 120 days of its due date, such as forfeiting your right to carry on any business in the state.

A $50 penalty is assessed on each report filed after the due date. If tax is paid 1-30 days after the due date, a 5 percent penalty is assessed. If tax is paid over 30 days after the due date, a 10 percent penalty is assessed.

Do you have to pay franchise tax if less than $1000 in Texas? ›

In addition to the no tax due threshold, a business does not owe any tax if its tax liability is less than $1,000. Finally, businesses with $20 million or less in total revenue during the franchise tax year have the option to use a sepa- rate, simplified calculation called the EZ computation.

You can search these reports through this site. If you get no results from your query, you can order a copy of the Public Information Report from open.records@cpa.texas.gov or by mail at Comptroller of Public Accounts, Open Records Section, PO Box 13528, Austin, Texas 78711. Call (800) 252-1386 for assistance.

First, corporations and LLCs are required to update their management information each year on the Public Information Report, filed with the Texas Comptroller of Public Accounts. This information is then sent to the secretary of state and the management records are updated accordingly.

The Franchise Tax Board will send a notice or letter to personal taxpayers and business entities for issues that may include but not limited to: You have a balance due. You are due a larger or smaller refund. We need to notify you of delays in processing your return.

An extension of time to file a franchise tax report and/or information report will be tentatively granted upon receipt of a 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.

Domestic or foreign Texas limited liability companies (including professional LLCs) must file a Public Information Report when they file their annual franchise tax with the Texas Comptroller of Public Accounts. There is no separate submission to the Texas Secretary of State.

Nonprofit entities that have requested and been granted an exemption from the Comptroller's office do not have to file franchise tax reports, including the Public Information Report or Ownership Information Report. If the entity has not requested or been granted an exemption, it must file all reports.

If you are conducting business in Texas, it is likely you will have to register your business with the State Comptroller. Depending on the type of business you conduct, you may also be required to obtain a permit, collect and or pay tax, and file tax returns.

Texas Income Taxes. Since Texas does not collect an income tax on individuals, you are not required to file a TX state income tax return.