Supported Forms

The following Texas forms are supported in Drake Tax 2023. TX forms cannot be e-signed.

Form	Description	IND	CRP	SCRP	PTR	FID	TEX
01-137	Limited Power of Attorney	P	P	P	P	P	P
05-102	Franchise Tax Public Information Report	P	P	P	P	P	P
05-158-A	Franchise Tax Report (page 1)	P	P	P	P	P	P
05-158-B	Franchise Tax Report (page 2)	P	P	P	P	P	P
05-158-F	Final Franchise Tax Report	P	P	P	P	P	P
05-160	Franchise Tax Credits Summary Schedule	P	P	P	P	P	P
05-164	Franchise Tax Extension Request	P	P	P	P	P	P
05-165	Franchise Tax Extension Affiliate List		P	P	P	P	P
05-166	Franchise Tax Affiliate Schedule		P	P	P	P	P
05-167	Franchise Tax Ownership Information Report		P	P	P	P	P
05-169	Franchise Tax EZ Computation Report	P	P	P	P	P	P
05-169-F	Final Franchise Tax EZ Computation Report	P	P	P	P	P	P
05-170	Franchise Tax Payment Form	P	P	P	P	P	P
05-175	Franchise Tax Tiered Partnership Report		P	P	P	P	P
05-177	Franchise Tax Common Owner Information Report	P	P	P	P	P	P
05-178	Franchise Tax Research and Development Activities Credits Schedule	P	P	P	P	P	P
05-180	Historic Structure Credit Supplement for Credit Claimed on the Franchise Tax Report	P	P	P	P	P	P
05-359	Request for Certificate of Account Status to Terminate a Taxable Entity’s Existence in Texas or Registration	P	P	P	P	P	P

Obsolete Form

Form TX 05-163, Texas Franchise Tax No Tax Due Report, is now obsolete.

Tax Law Changes

• The no tax due threshold has been increased to $2,470,000 for report year 2024.

• New Veteran-Owned Businesses

  • Entities must be pre-qualified.

  • New veteran-owned businesses are not subject to franchise tax for an initial 5-year period; they also are not required to file a Public Information Report (Form 05-102) or Ownership Information Report (Form 05-167) during this period. To be considered a new veteran-owned business, an entity must meet the following qualifications as verified by the Comptroller’s office:

    • Be 100% owned by a natural person (or persons), each of whom was honorably discharged from a branch of the United States Armed Services

    • Be an entity formed or organized in Texas on or after January 1, 2016, and before January 1, 2020, or on or after January 1, 2022, and before January 1, 2026

    • Provide a letter from the Texas Veterans Commission (TVC) verifying the honorable discharge of each owner

  • A taxable entity that is verified as a new veteran-owned business is no longer required to file a No Tax Due Report for the initial 5-year period, provided the entity maintains its qualification as a new veteran-owned business.