Bill Text: TX HB2292 | 2023-2024 | 88th Legislature | Introduced
Bill Title: Relating to certain reimbursements and discounts allowed for the collection and payment of sales and use taxes.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2023-03-09 - Referred to Ways & Means [HB2292 Detail]
Download: Texas-2023-HB2292-Introduced.html
88R7836 RDS-F | ||
By: Slawson | H.B. No. 2292 |
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relating to certain reimbursements and discounts allowed for the | ||
collection and payment of sales and use taxes. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 151.423, Tax Code, is amended to read as | ||
follows: | ||
Sec. 151.423. REIMBURSEMENT TO TAXPAYER FOR TAX | ||
COLLECTIONS. (a) In this section: | ||
(1) "Credit card" means a card or equivalent device | ||
used to make purchases based on the cardholder's promise to pay the | ||
issuer of the card for the amount of the purchase and any associated | ||
interest and fees. | ||
(2) "Credit card sale" means a sale of a taxable item | ||
paid for by the purchaser using a credit card. | ||
(b) As reimbursement for the cost of collecting the taxes | ||
imposed by this chapter, a [ |
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deduct and withhold: | ||
(1) one-half of one percent of the amount of taxes due | ||
from the taxpayer, other than taxes imposed on credit card sales; | ||
and | ||
(2) 2.5 percent of the amount of taxes imposed on | ||
credit card sales due from the taxpayer [ |
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(c) The comptroller shall provide a card with each form | ||
distributed for the collection of taxes under this chapter. The | ||
card may be inserted by the taxpayer with the tax payment to provide | ||
for contribution of all or part of the reimbursement provided by | ||
this section for use as grants under Subchapter M, Chapter 56, | ||
Education Code. If the taxpayer chooses to contribute the | ||
reimbursement for the grants, the taxpayer shall include the amount | ||
of the reimbursement contribution with the tax payment. The | ||
comptroller shall transfer money contributed under this section for | ||
grants under Subchapter M, Chapter 56, Education Code, to the | ||
appropriate fund. | ||
SECTION 2. Section 151.424, Tax Code, is amended by | ||
amending Subsection (a) and adding Subsection (a-1) to read as | ||
follows: | ||
(a) A taxpayer who prepays the taxpayer's tax liability of | ||
taxes described by Section 151.423(b)(1) on the basis of a | ||
reasonable estimate of the tax liability for a quarter in which a | ||
prepayment is made or for a month in which a prepayment is made may | ||
deduct and withhold 1.25 percent of the amount of the prepayment in | ||
addition to the amount permitted to be deducted and withheld under | ||
that section [ |
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of the tax liability must be at least 90 percent of that [ |
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ultimately due or the amount of that tax paid in the same quarter, | ||
or month, if a monthly prepayer, in the last preceding year. Failure | ||
to prepay a reasonable estimate of the tax will result in the loss | ||
of the entire prepayment discount. | ||
(a-1) A taxpayer may not deduct or withhold any amount under | ||
this section of a prepayment of the taxpayer's tax liability for | ||
taxes described by Section 151.423(b)(2). | ||
SECTION 3. Section 151.423, Tax Code, as amended by this | ||
Act, applies to a tax report due on or after the effective date of | ||
this Act. A tax report due before the effective date of this Act is | ||
governed by the law in effect on the date the tax report was due, and | ||
the former law is continued in effect for that purpose. | ||
SECTION 4. Section 151.424, Tax Code, as amended by this | ||
Act, applies to a prepayment of tax liability made on or after the | ||
effective date of this Act. A prepayment of tax liability made | ||
before the effective date of this Act is governed by the law in | ||
effect on the date the prepayment was made, and the former law is | ||
continued in effect for that purpose. | ||
SECTION 5. This Act takes effect October 1, 2023. |