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The TX franchise tax does not apply to general partnerships directly and solely owned by natural persons (except the tax does apply to all limited liability partnerships).
A general partnership directly and entirely owned by natural persons is not a taxable entity.
In this case - no need to file the Texas franchise tax return.
TX follows federal laws and regulations.If the entity elected to be classified as S-corporation for federal tax purposes - it will be treated as such for state tax purposes.
There is NO separate S-corporation election on the state level.
You are correct with assumptions that - it is a general partnership - not a limited partnership.
- only natural persons are partners - not corporations, trusts. or other partnerships,etc.
If any of these not true - the partnership is subject to the Texas franchise tax.