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 15 (or the next business day if May 15 falls on a weekend or legal holiday). According to the Comptroller due dates page, this May 15 deadline applies to all franchise tax filers regardless of their federal accounting period. A different fiscal year affects which reportable period is covered on the return, not when the report is due.
New businesses must file their first Texas annual report by May 15 of the first report year in which the entity is subject to the franchise tax. For example, an entity formed in 2024 will file its first annual report by May 15, 2025.
The Franchise Tax Report is required for most Texas businesses to calculate their Texas franchise tax obligations based on margin or revenue.
Businesses with annual revenue at or below the no-tax-due threshold owe no franchise tax but must still file any required PIR or OIR to maintain good standing. For the 2025 report year, this threshold is $2,470,000. For the 2026 report year, the Texas Comptroller confirms the threshold increases to $2,650,000. The threshold is codified in Texas Tax Code §171.002(d)(2) and is subject to a biennial inflation adjustment under §171.006.
Effective for report years 2024 and later, the former No Tax Due Report (Form 05-163) has been permanently discontinued. Entities below the threshold must instead file a PIR or OIR to remain compliant.
The Public Information Report is required for corporations, LLCs, limited partnerships, professional associations, and financial institutions. It accompanies the Franchise Tax Report, providing:
PIR information is forwarded to the Secretary of State and becomes part of the public record, accessible online through the Texas Comptroller's Taxable Entity Search tool.
For general partnerships, trusts, and other taxable entities not required to file a PIR, the Ownership Information Report serves a similar purpose, disclosing ownership and management information.
Unlike PIR information, which is forwarded to the Secretary of State and becomes part of the public record, OIR information is treated as confidential tax information and does not appear in the Comptroller's public Taxable Entity Search. Individuals authorized to sign the OIR must attest to the accuracy of the information provided.
Your accounting period for the Texas franchise tax is mechanically derived from your federal tax accounting period. Most businesses use the calendar year (January through December), though some operate on different fiscal periods. When the IRS approves a change to your federal fiscal year, your Texas reportable period generally changes automatically without a separate Texas election.
Businesses can request an extension to file the Texas Franchise Tax Report, but the extension grants additional time to submit the report only, not to pay the tax owed. To receive an extension, the entity must submit a timely extension request or payment by May 15, using either an online payment or Form 05-164. The payment must cover at least 90% of the current year's tax or 100% of the prior year's tax to qualify. Full details on extension methods and requirements are available on the Comptroller's filing extensions page.
You have two filing options for your Texas annual filings:
When your business spans multiple states, annual reporting becomes increasingly complex. Key considerations include:
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Whether you manage a handful of Texas entities or a complex multi-state portfolio, Discern keeps your filings current and your entities in good standing.
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