Bill Text: TX HB1316 | 2015-2016 | 84th Legislature | Introduced
Bill Title: Relating to decreasing the rates of the franchise tax.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2015-03-05 - Referred to Ways & Means [HB1316 Detail]
Download: Texas-2015-HB1316-Introduced.html
84R2597 BEF-D | ||
By: Bohac | H.B. No. 1316 |
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relating to 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 | ||
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(b) Subject to Sections 171.003 and 171.1016, the rate of | ||
the franchise tax is 0.475 [ |
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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. |