Bill Text: TX HB2864 | 2019-2020 | 86th Legislature | Introduced

Texas House Bill 2864 (Prior Session Legislation)

Introduced

Bill Title: Relating to the E-Z computation of the franchise tax.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Introduced - Dead) 2019-04-03 - Left pending in committee [HB2864 Detail]

Download: Texas-2019-HB2864-Introduced.html

	86R9675 SMT-F

	By: King of Uvalde	H.B. No. 2864



	A BILL TO BE ENTITLED
	AN ACT
	relating to the E-Z computation of the franchise tax.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
	SECTION 1. Section 171.1016(a), Tax Code, is amended to
	read as follows:
	(a) Notwithstanding any other provision of this chapter, a
	taxable entity whose total revenue from its entire business is not
	more than $25 [~~$20~~] million may elect to pay the tax imposed under
	this chapter in the amount computed and at the rate provided by this
	section rather than in the amount computed and at the tax rate
	provided by Section 171.002.
	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, 2020.