Pay Franchise Taxes

Pay Franchise Taxes

Pay Franchise Taxes Online in the State of Texas using this service!

FAQs

Are family limited partnerships subject to the franchise tax?

A family limited partnership is a taxable entity in Texas unless it meets the criteria of a passive entity under TTC 171.0003.

When are Annual Franchise Tax Reports due in Texas?

The annual franchise tax report is due May 15. If May 15 falls on a  weekend or holiday, the due date will be the next business day.  

What is the penalty for late filing and payment of Franchise Taxes in the State of Texas?

 The following penalties apply if Franchise taxes are paid after the due date:

  • A $50 penalty is assessed on each report filed after the due date.
  • If tax is paid 1-30 days after the due date, a 5 percent penalty is assessed.
  • If tax is paid over 30 days after the due date, a 10 percent penalty is assessed.
  • Past due taxes are charged interest beginning 61 days after the due date.

Are sole proprietorships subject to the franchise tax in Texas?

A sole proprietorship that is not legally organized in a manner that  limits its liability is not a taxable entity. A single-member limited  liability company filing as a sole proprietor for federal income tax  purposes is a taxable entity. TTC 171.0002(d).

Is a non-Texas entity that owns a royalty interest in an oil or gas well in Texas subject to the franchise tax?

Yes. A royalty interest in an oil or gas well is considered an  interest in real property. Therefore, a non-Texas entity that owns a  royalty interest in an oil or gas well in Texas is considered to own  real property in Texas and is subject to the franchise tax unless it is a nontaxable entity. 

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Pay Franchise Taxes

Pay Franchise Taxes

Pay Franchise Taxes Online in the State of Texas using this service!

FAQs

Are family limited partnerships subject to the franchise tax?

A family limited partnership is a taxable entity in Texas unless it meets the criteria of a passive entity under TTC 171.0003.

When are Annual Franchise Tax Reports due in Texas?

The annual franchise tax report is due May 15. If May 15 falls on a  weekend or holiday, the due date will be the next business day.  

What is the penalty for late filing and payment of Franchise Taxes in the State of Texas?

 The following penalties apply if Franchise taxes are paid after the due date:

  • A $50 penalty is assessed on each report filed after the due date.
  • If tax is paid 1-30 days after the due date, a 5 percent penalty is assessed.
  • If tax is paid over 30 days after the due date, a 10 percent penalty is assessed.
  • Past due taxes are charged interest beginning 61 days after the due date.

Are sole proprietorships subject to the franchise tax in Texas?

A sole proprietorship that is not legally organized in a manner that  limits its liability is not a taxable entity. A single-member limited  liability company filing as a sole proprietor for federal income tax  purposes is a taxable entity. TTC 171.0002(d).

Is a non-Texas entity that owns a royalty interest in an oil or gas well in Texas subject to the franchise tax?

Yes. A royalty interest in an oil or gas well is considered an  interest in real property. Therefore, a non-Texas entity that owns a  royalty interest in an oil or gas well in Texas is considered to own  real property in Texas and is subject to the franchise tax unless it is a nontaxable entity. 

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