Time Frame. Franchise tax forms are due, for Texas-based companies, no later than one year and 90 days following the date the company is registered with the state. Companies that are not based in Texas but do conduct business in Texas must file their franchise tax forms within one year and 90 days after the first date of business in the state. Companies that became liable for franchise tax after Oct. 4, 2009 were required to file a first annual report by May 17, 2010.