Practice Operations: Franchise Tax


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Topic Practice Operations: Franchise Tax
Background Physician practices that are structured as a limited liability partnership, professional association, or any other corporate form must file a Texas franchise tax return or request an extension annually by May 15.
Regulating Body Texas Comptroller
Compliance Date 5/15/2013
Consequences Failure to file timely will result in a $50 penalty plus 5 or 10 percent of the unpaid tax due.
Next Steps To submit returns or request an extension, go to ​http://window.state.tx.us/taxinfo/franchise/
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