Texas Comptroller Issues Franchise Tax Rates, Thresholds, Deduction Limits

The Texas Comptroller of Public Accounts Dec. 1 issued information on tax rates, thresholds, and deduction limits for franchise tax reports due in 2008 through 2025, for corporate income tax purposes. Franchise tax rates, thresholds, and deduction limits vary by report year. Taxpayers must use the rate that corresponds to the year for which they are filing. The comptroller includes: 1) the no tax due threshold increased to $2.47 million for 2024 and 2025 from $1.23 million for 2022 and 2023; 2) the tax rate for retail or wholesale businesses is 0.375 percent and 0.75 percent for businesses other than ...