Texas Comptroller Issues Franchise Tax Information on Public Information, Ownership Information Reports

The Texas Comptroller of Public Accounts Dec. 22 issued franchise tax information on public information and ownership information reports, for corporate income tax purposes. The information includes: 1) every taxable entity that is organized in the state or has economic nexus with the state, must annually file either Form 05-102, Texas Franchise Tax Public Information Report (PIR), or Form 05-167, Franchise Tax Ownership Information Report (OIR); 2) each member of a combined group organized in the state or having economic nexus in the state must file a separate PIR or OIR; 3) the PIR or OIR is due even if ...