Texas franchise tax report: due date, fee, and late penalty

May 15 (or next business day), every year. May 15 every year, or the next business day when it falls on a weekend. The Public Information Report is filed alongside it. First due May 15 of the year after formation.

No filing fee, and $0 tax due if annualized revenue is $2.65 million or less; above that the tax depends on your taxable margin.

No penalty below the revenue threshold; unfiled report forfeits business rights. No late penalty below the revenue threshold. An unfiled report forfeits your right to do business in Texas, and the certificate of formation can be forfeited if not revived within 120 days.

May 15, every year. May 15 each year (next business day if it falls on a weekend). Every corporation files the Public Information Report; corporations above the no-tax-due revenue threshold also file a franchise tax report in the same session. First report due May 15 of the year after formation.

No filing fee. Franchise tax is $0 at or below the no-tax-due threshold ($2,650,000 annualized revenue for 2026 reports); above it, the tax is a percentage of taxable margin.

$50 penalty plus percentage penalties and interest; forfeiture. A late information report alone carries no penalty; a late franchise tax report draws a $50 penalty plus percentage penalties and interest on tax due. Continued non-filing leads to forfeiture of the right to transact business.

$2.65 million in annualized revenue. An LLC at or below the threshold owes $0 franchise tax but still files the Public Information Report by May 15.

Texas has no separate annual report. The franchise tax report and the Public Information Report, both due May 15, fill that role.