Bill Text: TX SB100 | 2013-2014 | 83rd Legislature | Introduced


Bill Title: Relating to the total revenue exemption for the franchise tax.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2013-04-29 - Reported from s/c favorably with substitute [SB100 Detail]

Download: Texas-2013-SB100-Introduced.html
  83R1305 TJB-D
 
  By: Patrick S.B. No. 100
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the total revenue exemption for the franchise tax.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 171.002(d), Tax Code, as amended by
  Section 1(a), Chapter 286 (H.B. 4765), Acts of the 81st
  Legislature, Regular Session, 2009, is amended to read as follows:
         (d)  A taxable entity is not required to pay any tax and is
  not considered to owe any tax for a period if:
               (1)  the amount of tax computed for the taxable entity
  is less than $1,000; or
               (2)  the amount of the taxable entity's total revenue
  from its entire business is less than or equal to $5 [$1] million or
  the amount determined under Section 171.006 per 12-month period on
  which margin is based.
         SECTION 2.  Section 171.006(b), Tax Code, is amended to read
  as follows:
         (b)  Beginning in 2010, on January 1 of each even-numbered
  year, the amounts prescribed by Sections 171.002(d)(2)[,
  171.0021,] and 171.1013(c) are increased or decreased by an amount
  equal to the amount prescribed by those sections on December 31 of
  the preceding year multiplied by the percentage increase or
  decrease during the preceding state fiscal biennium in the consumer
  price index and rounded to the nearest $10,000.
         SECTION 3.  Section 1(c), Chapter 286 (H.B. 4765), Acts of
  the 81st Legislature, Regular Session, 2009, as amended by Section
  37.01, Chapter 4 (S.B. 1), Acts of the 82nd Legislature, 1st Called
  Session, 2011, is repealed.
         SECTION 4.  Section 2, Chapter 286 (H.B. 4765), Acts of the
  81st Legislature, Regular Session, 2009, as amended by Section
  37.02, Chapter 4 (S.B. 1), Acts of the 82nd Legislature, 1st Called
  Session, 2011, and which amended former Subsection (d), Section
  171.002, Tax Code, is repealed.
         SECTION 5.  Section 3, Chapter 286 (H.B. 4765), Acts of the
  81st Legislature, Regular Session, 2009, as amended by Section
  37.03, Chapter 4 (S.B. 1), Acts of the 82nd Legislature, 1st Called
  Session, 2011, and which amended former Subsection (a), Section
  171.0021, Tax Code, is repealed.
         SECTION 6.  Sections 171.0021 and 171.1016(d), Tax Code, are
  repealed.
         SECTION 7.  This Act applies only to a report originally due
  on or after the effective date of this Act.
         SECTION 8.  This Act takes effect January 1, 2014.
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