Franchise Tax Public Information ReportWhich card the entity files
Eight worries show up over and over. Each one has a plain answer, and none of them is a calculation of your tax.
See which card
The money figure is on a different report
The Nasher garden keeps sculpture under the trees in the Arts District. A glance from the sidewalk is not the whole collection. A stranger's look at an officer card is that same kind of glance. The revenue sits on a different report, and these answers do not compute it.
People ask whether the public report publishes revenue. It does not. The card a stranger opens is people, titles, and the office facts the instructions collect. The franchise computation, if one is due, is the other report. We can prepare that computation from a year that is already closed. We will not pretend the public card is where the dollars are explained.
An LLC, a buyer, and a member who left
An LLC organized in Texas or with nexus is on the public report list. The federal election is not the switch. Send the formation paper in the note if you have it, and we match the entity to the list. If you are not sure you are an LLC, say what the formation paper calls you. Guessing from the way customers refer to the company is how the wrong card gets prepared.
The ownership report stays off the Comptroller website. That office calls the ownership information confidential. A buyer who can see officer and director lines cannot, from that fact alone, see ownership percentages. A member managed LLC is asked on the form to list members. That instruction is still not a published percentage. We will not claim a buyer sees the cap table.
If a member left, gather who actually serves on the day you complete the report. The departure is the usual mismatch. We do not give removal advice here. Mid year changes wait for the next annual card, and a person named in error may have a sworn statement available. The questions page can name those paths. It cannot file them.
A group, a zero bill, and a passive claim
No single public report covers a whole combined group. Each member organized in Texas or with nexus has a separate information report. The tax computation can be a group story. The name cards are not. If you have three entities and only one of them has Texas nexus, say so. We would rather prepare one card for the right member than three cards because a chart showed three boxes.
A year with nothing owed does not retire the information report. When annualized total revenue is at or under the no tax due line, the name card remains, and the date page prints the two figures with the pages they come from. A blank payment still leaves the names to be signed.
A passive entity skips the public report and the ownership report. A registered one still files a long form or an EZ computation, signs it, and blackens the circle. We do not decide on this page whether the entity is passive. If that is your question, the note should say what the entity owns and whether it is registered, and the answer waits for the file, not for a heading.
You will be talking to the Steven Palmieri practice.
Which entity is it
Name the entity type, or name the question you still have. One is enough.