Formation of Business Entities and Nonprofit Corporations Under the Texas Business Organizations Code: Online filing available through SOSDirect. Yes. Certificates of formation can be filed online through SOSDirect 24 hours a day, 7 days a week.As employers, state agencies and institutions of higher education must deduct federal income tax (FIT) from the wages of a state officer or employee. Franchise tax reports are due on May 15 each year. If May 15 falls on a Saturday, Sunday or legal holiday, the next business day becomes the due date. Take a look at our Tax Due Dates page. Find out what takes place in the formation of a corporation and the resulting tax responsibilities and required forms. Why does small business love Texas? Because the state's taxes on small business are low, and they're easy to file, too.