Texas Franchise Tax Instructions 2024. There were five types of entities eligible to file a no tax due report. 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.

Franchise tax is a privilege tax imposed on each taxable entity and a “franchise” is the right granted to an entity to market their goods or services. 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.