Texas doesn't have a filing called an "annual report." Instead, the state requires businesses to be familiar with three main annual filings: the Franchise Tax Report, the Public Information Report (PIR), and the Ownership Information Report (OIR).
Not all businesses need to file all three reports, but these filings share the same deadline. The requirements vary based on your entity type, structure, and annual revenue.
Most businesses must file the Texas Franchise Tax Report and either the PIR or OIR by May 15th if they follow the calendar year for accounting.
If your company operates on a different fiscal year, your deadline shifts to the 15th day of the 5th month after your fiscal year ends.
New businesses typically file their first Texas annual report one year after formation or beginning Texas operations.
The Franchise Tax Report is required for most Texas businesses to calculate their Texas Franchise Tax based on margin or revenue.
Businesses with annual revenue under $1.23 million owe no franchise tax but must still file the required Public Information Report or Ownership Information Report to maintain good standing.
The Public Information Report is required for corporations and LLCs and accompanies the Franchise Tax Report, providing:
PIR information becomes part of the public record and is accessible online through the Texas Comptroller's website.
For partnerships and trusts, the Ownership Information Report serves a similar purpose, disclosing ownership and management information.
Unlike the PIR, ownership information submitted via OIR remains confidential and is not published in public databases. Individuals authorized to sign the OIR must attest to the accuracy of the information provided.
Your accounting period for Texas franchise tax typically aligns with your federal tax accounting period. Most businesses use the calendar year (January through December), though some operate on different fiscal periods.
Consistency is important – changing your accounting period requires approval from the Texas Comptroller. Any change affects filing deadlines and reportable financial data.
Extensions are available:
Extensions apply to filing deadlines only, not payment deadlines. Any unpaid tax after the original due date accrues penalties and interest.
For organizations managing multiple entities, these deadlines multiply quickly, making systematic tracking essential.
You have two filing options for your Texas annual filings:
When your business spans multiple states, annual reporting becomes increasingly complex. Each jurisdiction has unique rules, deadlines, and forms.
For many Texas-based companies, mastering the state of Texas franchise tax filing is just the beginning. As you expand, your compliance strategy must scale accordingly.
Consider these approaches for effective multi-state compliance:
Organizations in growth mode particularly need scalable compliance solutions as they rapidly expand into new jurisdictions.
Discern helps organizations streamline their compliance processes by automating the heavy lifting. Our platform identifies exactly which reports each entity needs to file and when they're due, eliminating guesswork and preventing missed deadlines.
With coverage across all 51 U.S. jurisdictions, Discern is ideal for companies managing entities in multiple states. Our automated system reduces submission time to a couple of minutes per entity through pre-filled forms and built-in error checks.
Ready to streamline your Texas compliance? Book a Discern demo today.
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