CPA and Bookkeeping Frisco AlternativeCPA FriscoMay still needs a true deposit

The annual franchise report is due May 15, or the next business day when that date falls on a weekend. An information report rides with it. Owners who had a loud year of events sometimes treat May as a formality. The state does not.

For the 2026 report the no-tax-due line sits at 2.65 million. Retail and wholesale use 0.375 percent. Other lines use 0.75 percent. A weekend company in Frisco that lands under that line still files the May report, even when the deposit is zero. A year under the no-tax-due line still gets a franchise report filed.

Margin is computed from the year's revenue in one of the ways the Comptroller allows, including a compensation path and a cost-of-goods path. We pick the path from the closed year, not from the path that sounded good in a headline. The deposit follows that pick.

A guess deposit, round and hopeful, is how a company ends up paying penalty on the difference later. We would rather compute the number in April from months that match the bank, then pay that number.

Comerica Center holds the Texas Legends, the G League club people in Frisco claim, and it also holds the Stars' practice life. We are all Texans. The city is proud of its rinks and its courts, and we have not bought a ticket.

Comerica can be packed on a Friday and the franchise computation is still sitting there on Monday. The morning after, the computation is still waiting. We still want the deposit to be the true one, the one the closed year supports, before the middle of May.

Extensions exist, and they are not a personality. A company that pays electronically on the state's terms can move the filing date. An extension payment that is short still draws penalty and interest on the short part. Extending is a calendar choice. Underpaying the extension is a math error.

If your prior year was large enough that the state requires an electronic payment, we will say so from the prior report. We will not let a paper habit collide with a rule you already tripped.

Total revenue on the report starts from the revenue on the federal return, with the exclusions the statute actually gives. That is why the weekends have to be named before May. A deposit that was never split into sales and sales tax will inflate revenue. A bill that was never coded may hide a cost the margin computation could have used.

Compensation has a cap per person, and it includes more than a casual owner draw. We read who was paid, through the provider you run, and we stop at the cap. Padding the number past the cap does nothing but invite a question.

Cost of goods has a real meaning for companies that sell things, and a tempting misuse for companies that sell time. We will say which you are. An event company that re-bills rented gear is not automatically a retailer, and calling it one to reach the lower rate is a position we will not take just because the rate is lower.

The log cabin at the heritage center is a small true thing in a city of large venues. We are all Texans. We have not stepped inside that cabin. The franchise computation should be the same kind of object. Small, true, and finished.

Hand May a year that has been closed, an entity that has been named, and a deposit that matches. Hand it the information report with officers and ownership that are still accurate. A report that still lists a partner who left in June is a report that will confuse the next person who reads it, including you.

If no tax is due because you are under the line, we still file, and we still keep the computation that shows why. Filing late can still cost money when the tax line itself is zero. Calm filing is cheaper than a clever delay.

Public information on the report is public. Say what you are willing to have read, and make sure it matches the formation paper. We do not hide a fact the form asks for. We do not add a fact the form does not ask for.

Sole proprietors who never formed an entity usually are not in this report at all. If you have been filing one out of worry, bring last year's report and we will say whether it was yours to file.

We compute. We show you the path. We show you the deposit. You approve it or you ask a question. Then it is paid from an account you control, on a date we put on a calendar you can see.

If the cash is not there for the true deposit, we say that early enough to matter. Sometimes the answer is an extension with a true first payment. Sometimes the answer is that October's choice to buy equipment is why May is tight, and we will not scold you for a choice we can still explain.

The income tax return and this report share a year and do not share a form. Doing one from memory and the other from the books is how the two stories diverge. The franchise computation and the income tax return both read the year we already closed, so the two stories cannot drift apart.

Bring the prior franchise report together with the newest month you believe. We will say whether May can be computed from what exists, or what has to be closed first. The work is specific. The relief, when the deposit matches, is specific too.

Keep the computation with the year. Next April you will want it, and so will anyone who asks how the deposit was built. A PDF of the confirmation is not a substitute for the worksheet, but we keep both.

If the state writes back, the letter comes to you. Send it the week it arrives. A letter about a name, a payment, or a missing information report is usually quieter when it is young. We read it against the file we already have, which is the point of having closed the year on purpose.

Then the city goes back to its Fridays. Toyota Stadium, the square, the ballpark. The report does not need to follow you there. It needs to be finished so those nights are just nights.

That is the whole of May on this practice. Compute from closed months. Pay the true deposit. File even when the tax is zero. Leave a worksheet the next year can read. We keep the confirmation beside the worksheet so next April starts from a page you already trust.