Texas Franchise Tax Instructions 2024. The deadline is may 15, 2024 and we need to be.  — 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.

 — in july of 2023, the texas state legislature passed a bill which increased the no tax due threshold and eliminated reporting requirements for certain entities. The deadline is may 15, 2024 and we need to be.