In approximately 2 months, you will get a letter from the Texas State Comptroller (the division responsible for tax-related items). This letter will instruct you on filing your Annual Franchise Tax Report, which all LLCs in Texas are required to file.
Annual Reporting and Taxes. Regarding the Annual Reporting requirements, your LLC is required to file 2 documents on a yearly basis.
The first is the Franchise Tax Report which is filed with the Texas State Comptroller, not the Corporation Section. The Corporation Section is the office in which you mail your LLC Formation Documents. Remember, the Texas State Comptroller is a division that handles tax related-items.
The second is a Public Information Report (or PIR) that must also be submitted with your Franchise Tax Report. These reports are not easy to complete. Even if your LLC does not generate revenue or have business activity within a given tax year, you will still be required to file this annual paperwork with the State. Tax Information For Filing
Taxes for a Texas LLC
We recommend speaking with a few accountants in Texas to make sure you meet all your federal, state, and local tax obligations.
Taxes are paid on 3 levels:
90% of Texas LLCs don’t owe any franchise tax since most LLCs have annualized total revenue less than $1,180,000. However, your LLC still must file a No Tax Due Report (Form 05-163) and a Public Information Report (Form 05-102). Note: these forms are combined together when filing online via WebFile.
Texas Sales Tax Permit
Your Texas LLC is responsible for collecting sales tax if it sells or leases tangible personal property in Texas or sells taxable services in Texas
If your Texas LLC needs to collect sales tax, then you’ll need a sales tax permit. This can be obtained online via WebFile. There is no charge. After you log in to WebFile, click “Texas Sales and Use Tax Registration”.
Source: Click here