Franchise Tax Public Information ReportHave the list before May

People train for the Dallas Marathon in December, and the ones who finish started months earlier with a course they could name. May is that kind of date for an officer list. Have the names in hand before the fifteenth, the way a runner has the course in mind before the start. The photograph on this page is only sky. The date is the point.

May's public card and the annual report share one deadline, the fifteenth, pushed to the following business day if that date lands on a weekend or a holiday. Owners who owed no tax last year sometimes skip the name card because the payment line was blank. The information report does not skip with it. When annualized total revenue sits at or under the no tax due line, the name card is still the thing with a signature.

Reports first due on or after the first day of 2024 dropped the old no tax due sheet. The information card stayed. If someone tells you a quiet year means nothing to file, ask which year they mean, and ask whether they are talking about the tax computation or about the names. Those are different pieces of paper even when they leave on the same morning.

We will not pick a threshold from memory. The open table on the franchise tax page lists 2.65 million and does not tie that figure to a report year on the table itself. Webfile help lists 2.47 million for reports due in 2024 and in 2025. Your notice names a year. We read that year before we say which figure the instructions are using. A number without a year is how a quiet company gets talked into the wrong stack.

For a combined group, the line looks at the group's annualized total revenue. A member that looks small on its own can still sit inside a group that cleared the line, and that member still files its own name card if Texas organized it or it has nexus. One group computation does not stand in for those separate cards. Bring the member list with the year, not a single total and a hope.

Two kinds of entities can be outside the name cards, and both are easy to claim too early. A qualifying new veteran owned business is outside the tax and outside both information reports for its first five years. For reports due before 2024 the Comptroller page names form 05-163. The formation window, the rule that every owner is a natural person with an honorable discharge, and the verification letter from the Texas Veterans Commission are tests the Comptroller checks. If the qualification is lost during those five years, the entity has to notify the Comptroller and the tax applies. We will not mark that box from a sentence you type here.

A passive entity, in the franchise sense of section 171.0003, skips both name cards. If it is registered or required to register, it still files a long form or an EZ computation and blackens the passive circle. We do not run the income test on this page. The date page is here so the fifteenth stays on the calendar while those questions are still open, not so we can close them with a guess.