As of 2024, only businesses making over $2.47 million per year need to pay Texas Franchise Tax. Otherwise, you just need to file a Public Information Report with the Texas Comptroller.

Texas does not have a net corporate or personal income tax, making the Texas Franchise Tax the state’s primary tax on businesses. Luckily, the No Tax Due Threshold, currently set at $2,470,000, means most small companies (like LLCs) don’t have to pay any franchise tax.
Starting in 2024, businesses under the tax threshold no longer need to file a No Tax Due Report. Instead, LLCs and corporations earning less than $2.47 million only need to file a Public Information Report. This report is due by May 15, and there is no filing fee. However, a late fee may apply if you miss the deadline.
If you think this deadline might sneak up on you—or would prefer to leave the paperwork to someone else—hire Independent Texas! Our Texas registered agent service includes free due date tracking and reminders.