It depends. If you are saying "it is" then yes. Example: It's black. You're saying "It is black." An example of where it would not need an apostrophe would be like, "Its friends were weird."
Additional answer
Not only does it not need one, it mustn't have one!)
No. A spider is a spider and an apostrophe is an apostrophe.
No, your doesn't have an apostrophe. You're, however, does have an apostrophe because it's a contraction for you and are.
Can't is cannot with an apostrophe.
Shall not with an apostrophe is shan't.
An apostrophe is not required.
No. A spider is a spider and an apostrophe is an apostrophe.
you've is the apostrophe of you have
The apostrophe for "they had" is "they'd".
No, your doesn't have an apostrophe. You're, however, does have an apostrophe because it's a contraction for you and are.
This is an apostrophe.( ' )
you dont use an apostrophe in will not
No, taste doesn't have an apostrophe.
there is no apostrophe
Shall not with an apostrophe is shan't.
An apostrophe is not required.
Can't is cannot with an apostrophe.
The word "its" does not require an apostrophe when indicating possession, as in "The dog chased its tail." However, "it's" with an apostrophe is a contraction for "it is" or "it has," as in "It's going to rain today." To determine whether to use the apostrophe, consider whether you mean possession (no apostrophe) or a contraction (with apostrophe).