Texas LLC Annual Report
LLCs formed in Texas need to file this report with the Texas Secretary of State each and every year. i.e., annually. Read about how to file this report.
File report online
Visit the official state government’s website to submit annual report online.
Visit Texas official website
What is an LLC?
Limited Liability Company
LLC is a business entity in the U.S that provides limited liability to its members. It has characteristics from both corporation and sole proprietorship. LLCs are permitted under State statutes of each US state.
Limited liability
Personal assets are protected for people with limited liability when they are sued.
Corporation
A business entity that can issue shares and give limited liability to shareholders.
Members
Owners of an LLC are referred to as members. They own membership interest in the LLC.
Sole proprietorship
Where an individual engages in business activity without formal organization.
Why file the report?
Texas LLC Annual Reports
Texas Annual Reports are of two types. They are Annual Franchise Tax Report and Information Report. These reports must be filed in order to keep your LLC in good standing with the state of Texas
Why file the report?
Texas Annual Franchise Tax Report
Annual Franchise Tax Report must be filed to report on how much franchise tax an entity owes
Filed every year
All LLCs formed in Texas must file this report every year.
Franchise Tax Report Types
Franchise tax report is of 3 types: No Tax Due, EZ Computation or Long Form. The form that an LLC submits depends on the amount of franchise tax that needs to be paid.
File online
The Franchise Tax Report can be filed online via WebFile.
Why file the report?
Public Information Report (PIR)
Making information about your LLC public is done via information reports.
Filed every year
All LLCs formed in Texas must file this information report every year.
File Online
The Public Information Report is uploaded along with the Franchise Tax Report when it is submitted electronically using WebFile.
Purpose of Information Report
Information Report must be submitted to the State on or before May 15 to provide updated information about the entity and its owners and to avoid penalties.
Texas actions
Here are some of the actions business owners can take in Texas:
How to file Annual Report in Texas ?
Follow these steps:
1. Visit the official website
Every Texas LLC is required to file two annual reports each year - Public Information Report & Franchise Tax Report. The deadline for both is May 15 following the year in which the company was established.
Due
annually by May 15
Filing both Public Information Report & Franchise Tax Report is mandatory and can be done online. The franchise tax report must be filed even if your LLC has no tax liability, by submitting the 'no tax due report'. For such LLCs, the 'no tax due report' and the public information report have been combined for ease of filing.
Head over to Texas's official website to file this report.
The Annual report must be postmarked, complete and compliant, before May 15th of every year to avoid late fees or penalties
Certificate of Formation
In Texas, Certificate of Formation is the form you file with the Secretary of State to form an LLC. It contains the articles of formation for the LLC.
LLC Public Information Report
Every LLC has to file this report annually in Texas to stay compliant with the state laws.
Filing Public Information Report
Texas LLC is expected to file this report annually by May 15
File it online on Texas Comptroller website
Visit
Online fee
$0
Entity name
Every LLC should have a unique name in Texas. Texas maintains a list of names of entities in the state. Go through it to check if your chosen name is available.
Search for names
Go to the official website of the Texas taxable entity search tool to see if the name you want is available.
Searching fee
Free
Reservation
You can reserve a name for your LLC for a specific duration by paying reservation fees to the Texas corporations section. You will have to file your LLC formation documents within this period to keep the name. Alternatively, you can directly go ahead with the LLC formation without any reservation. That's fine too.
Reservation fee
$40
Reservation period
120 days
LLC naming guidelines
The name you choose for your LLC must the official naming guidelines.
Texas Business Organizations Code §5.054
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Here are some of the guidelines in simple language:
- 1
Must contain: the phrase "limited liability company" or "limited company"; or an abbreviation of one of those phrases.
- 2
Don’t include terms that indicate that you are doing an activity that you are not authorised to do.
- 3
Your name should be ‘distinguishable’ in the Secretary of State records. Adding a punctuation or ‘the’ does not make it distinguishable.
- 4
Don’t use words that makes it seems like you are a governmental entity or has an affiliation.
Frequently asked questions
LLC Annual Report in Texas
It is very important to maintain full compliance in Texas. Filing these reports helps you protect your personal assets by maintaining limited liability and also to be in good standing with the state. Read our guides to learn how to start and manage a business in Connecticut.
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