Do I need to file a franchise tax report for my LLC?

[John Morgan]

I formed an LLC in Texas for my 6 rental properties last year. A letter from the Texas Comptroller of Public Accounts says my company's first franchise tax report is due in May. What is this and do I need to file it for my LLC? Are there any other annual fees with having an LLC? I'm new to this obviously so thank you for any info!

Also, one of my properties is a vacation nightly rental in Missouri. Do I need to file anything with MO for my one property there..like a foreign entity or any other annual permit? My attorney says I don't. Only if it generates a lot of money..like over a million. And he says I don't need to pay any annual fees or permit for my Texas LLC. He said once he set it up for me, we're good to go and nothing further needs to ever be done with keeping it registered. Just wanted to double check since he's not a CPA.