Texas Franchise Reports

May 1, 2024 | Business, Newsletter, Taxes

Texas franchise reports are initially due May 15, 2024. An extension of time to file a franchise tax report will be tentatively granted upon receipt of an appropriate timely online extension payment or request on a form provided by the Comptroller if the extension is filed by May 15, 2024. The extension is generally granted to November 15.

However, entities that paid $10,000 or more in franchise taxes in the previous state fiscal year (September 1 to August 31) are required to pay using EFT (electronic funds transfer). In addition, the initial extension for these entities is only to August 15. A second extension for these entities can be requested to November 15 but the balance of any franchise tax must be paid by August 15.

If you have received your web file notice, the returns and extensions can be filed electronically. The Comptroller will usually email or mail the web file notice to you. Entities required to pay via EFT will also receive notice of this requirement. If you receive these items from the Comptroller’s office, please forward a copy to your ABIP contact.