Bill Text: TX SB52 | 2015-2016 | 84th Legislature | Introduced

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Bill Title: Relating to the computation of the franchise tax; decreasing the rates of the franchise tax.

Spectrum: Partisan Bill (Republican 3-0)

Status: (Introduced - Dead) 2015-02-10 - Co-author authorized [SB52 Detail]

Download: Texas-2015-SB52-Introduced.html

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By: Nelson S.B. No. 52

A BILL TO BE ENTITLED
AN ACT
relating to the computation of the franchise tax; decreasing the
rates of the franchise tax.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Sections 171.002(a), and (b), Tax Code, are
amended to read as follows:
(a) Subject to Sections 171.003 and 171.1016 and except as
provided by Subsection (b), the rate of the franchise tax is 0.95
[one] percent of taxable margin.
(b) Subject to Sections 171.003 and 171.1016, the rate of
the franchise tax is 0.475 [0.5] percent of taxable margin for those
taxable entities primarily engaged in retail or wholesale trade.
SECTION 2. This Act applies only to a report originally due
on or after the effective date of this Act.
SECTION 3. This Act takes effect January 1, 2016.