How to File Franchise Tax in Texas for LLCs

9 months ago
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How to File Franchise Tax in Texas for LLCs
This video explains everything Texas LLC owners need to know about franchise tax, including:
What it is: A business #privilege tax, not based on income, but on net worth or capital.
When to file: Annually by May 15th (or the next business day if it falls on a weekend/holiday).
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How much to pay:
No #tax due if your total revenue is under $2,470,000 in 2024 and 2025.
Rates depend on business type:
Retail & Wholesale: 0.375%
Others: 0.75%
Compensation deduction limit: Up to $450,000.
EZ computation option for businesses under $20 million revenue (0.331% rate).
How to file: You'll need your #Comptroller_ID, #Taxpayer Number, and #WebFile number.
For more details, watch the video!
You Can Also Check the Complete information in this Blog post.
https://onlineinfotainment.com/how-to...

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