Tx Franchise Tax Instructions 2024. Here’s what you need to know. A recent texas comptroller policy memo interprets the statute of limitations for the comptroller to assess franchise tax and for a taxable entity to file a franchise tax.

The texas franchise tax is levied annually by the texas comptroller on taxable entities doing business in the state that make over $2.47 million in annual revenue. 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.