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14959: TX – Franchise Tax Report Requires Either the PIR or OIR


Texas

I am receiving EF Messages about the PIR and OIR forms in my Texas Franchise Report – which report should I be completing? 

I am receiving multiple EF Messages regarding the PIR and OIR forms in my Texas Franchise report – which report should I be completing?

Texas requires either the Public Information Report (PIR) or the Ownership Information Report (OIR), depending upon the kind of business filing the Franchise Tax Report. The PIR and OIR should not both be completed in the same return. 

If the company is a Corporation, LLC, limited partnership, professional association, or financial institution, they must complete the PIR (form 05-102). If the company does not meet the definition of a Corporation, LLC, limited partnership, professional association, or financial institution, but has an obligation to file and pay any franchise tax, such as a partnership or trust, Texas requires the completion of the OIR (form 05-167). 

In Drake Tax, screen 1 within Texas Data Entry has a checkbox that will indicate whether this is a return for a Corporation, LLC, professional association, limited partnership, or financial institution. When this box is checked, the PIR is required, and the return cannot be e-filed until the PIR is complete. The PIR can be completed on the PIR screen in Data Entry.

    

If the box is left unchecked, the OIR is required, and the return cannot be e-filed until the OIR is complete. The OIR can be completed in Data Entry on the OIR screen.

For more information on the forms required by Texas for their Franchise Tax Reports, see the Texas Comptroller website for instructions.

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