Texas PIR: due May 15 even with no tax
Most small businesses owe no Texas franchise tax at all. Since 2024 they don't even file a tax report, but every LLC and corporation still owes Texas an information report by May 15, and skipping it can cost the entity its right to do business.
| Report year | No-tax-due threshold | What you file at or below it |
| 2022–2023 | $1,230,000 | No Tax Due Report (05-163) + PIR/OIR |
| 2024–2025 | $2,470,000 | PIR or OIR only |
| 2026–2027 | $2,650,000 | PIR or OIR only |
“Report year” is the year the report is due. The 2026 report (due May 15, 2026) generally covers the entity's 2025 accounting year. The Comptroller re-indexes the threshold every two years.
Who files what
- Public Information Report (Form 05-102): corporations, LLCs, limited partnerships, professional associations, and financial institutions. It lists officers, directors, managers, and the registered agent, and is public.
- Ownership Information Report (Form 05-167): other taxable entities, such as general partnerships and certain trusts, that aren't required to file a PIR.
- Franchise tax report: only entities with annualized total revenue above the threshold, on the EZ Computation (05-169) or the long form (05-158-A/B).
This applies to any entity formed in Texas or registered to do business there, including a Delaware LLC with a Texas office. Entities with Texas nexus from sales alone ($500,000 or more of Texas gross receipts) are taxable entities too.
Above the threshold
Businesses with revenue above $2.65 million compute franchise tax on their Texas-apportioned margin at 0.75% (0.375% for qualifying retailers and wholesalers). Businesses with total revenue of $20 million or less can instead use the EZ Computation: 0.331% of apportioned revenue, with no deductions. The margin-tax deductions guide explains when the long form wins. Our Texas explorer estimates the EZ path for planning.
Miss May 15?
A $50 late-filing penalty applies to each late report. More seriously, an entity that doesn't file its required reports forfeits its right to transact business in Texas: it can't sue in Texas courts, and its officers and directors can become personally liable for debts incurred afterwards. If the delinquency continues, the Secretary of State can forfeit the charter or registration. Extensions are available if requested by May 15. File $0-tax entities early — WebFile usually confirms within one or two business days.
Worked example: $1.8M revenue, $0 tax, one filing
A Delaware LLC registered in Texas had $1,800,000 of revenue in 2025. For its 2026 report it is under the $2,650,000 threshold, so it owes $0 franchise tax and files no tax report: just the PIR by May 15, 2026. Total Texas cost: $0 plus registered-agent fees. Skipping the PIR because no tax is due sets off the same penalty and forfeiture process as skipping a tax return.