Texas Franchise Tax Instructions 2024. The 2024 changes to the texas franchise tax system mark a significant shift in the state’s tax policy, aiming to reduce complexities and encourage business growth. Texas has made several changes that apply to report year 2024 (calendar year 2023) increasing the “no tax due” revenue threshold from $1.23 million to $2.47 million and the.
Business owners operating in the lone star state, mark your calendars! According to the texas comptroller, the franchise tax is “texas’ primary tax on business.” for the most part, if you’re required to collect and remit texas sales tax, you’d also.