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

Texas Senate Bill 100 (Prior Session Legislation)

Introduced

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

Sponsorship: Partisan Bill (Republican 1)

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	Session, 2011, is repealed.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	171.002, Tax Code, is repealed.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	171.0021, Tax Code, is repealed.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.