Everything You Need to Know About Filing a Public Information Report in Texas Franchise Tax
If you are a business owner in Texas and you want to file your franchise tax, you need to know about the public information report. In this article, we’ll discuss everything you need to know about filing a public information report in Texas franchise tax.
What is a Public Information Report?
In Texas, every business entity that is subject to franchise tax needs to file a public information report. This report provides information about the entity such as its name, registered agent, address, officers, and directors.
When to File a Public Information Report?
The public information report needs to be filed annually along with the franchise tax report. The due date for filing the report and tax is May 15th of each year. You may also file the report electronically with Texas Secretary of State using SOSDirect.
What Information is Required on a Public Information Report?
The following information is required on the public information report:
- Entity Name
- Registered Agent Name and Address
- Principal Office Address
- Names and Addresses of Officers and Directors
- Type of Entity
- State of Formation and Period of Duration
What Happens if you don’t File the Public Information Report?
If you fail to file the public information report with Texas Secretary of State, you may face penalties and interest charges on your unpaid taxes. This can also lead to the cancellation of your entity’s existence.
Conclusion
Filing a public information report is a crucial step for every business entity in Texas. It provides essential information about the entity and helps the government to keep track of its activities. Make sure to file the report timely and accurately to avoid any penalties and charges.
