You have the same legal standing as if you did not have a license (not permit) unless you renewed within 30 days of your expiration, then you keep the receipt of the renewal submission as your current license until you either get your renewal or are denied.
Carrying without a license is a Class A misdemeanor, which is punishable by up to 1 year in jail and/or a fine of up to $5,000. Don't carry on an expired license.