Bill Text: TX SB953 | 2023-2024 | 88th Legislature | Introduced
Bill Title: Relating to the determination of compensation and reporting requirements for the franchise tax.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2023-03-03 - Referred to Finance [SB953 Detail]
Download: Texas-2023-SB953-Introduced.html
| 88R3300 CJD-D | ||
| By: Perry | S.B. No. 953 | |
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| relating to the determination of compensation and reporting | ||
| requirements for the franchise tax. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Section 171.1013, Tax Code, is amended by adding | ||
| Subsection (b-2) to read as follows: | ||
| (b-2) Notwithstanding Subsections (b) and (b-1) and subject | ||
| to Section 171.1014, a taxable entity that elects to subtract | ||
| compensation for the purpose of computing its taxable margin under | ||
| Section 171.101 may not subtract the cost of health care benefits | ||
| provided to the entity's officers, directors, owners, partners, or | ||
| employees, if: | ||
| (1) the health care benefits include coverage for | ||
| items or services that facilitate access to abortion, including | ||
| travel vouchers; or | ||
| (2) the entity provides sick leave as a benefit to the | ||
| entity's officers, directors, owners, partners, or employees for | ||
| purposes of procuring an abortion or for a recovery period | ||
| following an abortion. | ||
| SECTION 2. Section 171.201(a), Tax Code, is amended to read | ||
| as follows: | ||
| (a) Except as provided by Section 171.2022, a taxable entity | ||
| on which the franchise tax is imposed shall file an initial report | ||
| with the comptroller containing: | ||
| (1) financial information of the taxable entity | ||
| necessary to compute the tax under this chapter; | ||
| (2) the name and address of: | ||
| (A) each officer, director, and manager of the | ||
| taxable entity; | ||
| (B) for a limited partnership, each general | ||
| partner; | ||
| (C) for a general partnership or limited | ||
| liability partnership, each managing partner or, if there is not a | ||
| managing partner, each partner; or | ||
| (D) for a trust, each trustee; | ||
| (3) the name and address of the agent of the taxable | ||
| entity designated under Section 171.354; | ||
| (3-a) a certification as to whether the taxable entity | ||
| provides health care benefits that include the coverage described | ||
| by Section 171.1013(b-2) or sick leave described by that | ||
| subsection; and | ||
| (4) other information required by the comptroller. | ||
| SECTION 3. Section 171.202(a), Tax Code, is amended to read | ||
| as follows: | ||
| (a) Except as provided by Section 171.2022, a taxable entity | ||
| on which the franchise tax is imposed shall file an annual report | ||
| with the comptroller containing: | ||
| (1) financial information of the taxable entity | ||
| necessary to compute the tax under this chapter; | ||
| (2) the name and address of each officer and director | ||
| of the taxable entity; | ||
| (3) the name and address of the agent of the taxable | ||
| entity designated under Section 171.354; | ||
| (3-a) a certification as to whether the taxable entity | ||
| provides health care benefits that include the coverage described | ||
| by Section 171.1013(b-2) or sick leave described by that | ||
| subsection; and | ||
| (4) other information required by the comptroller. | ||
| SECTION 4. This Act applies only to a report originally due | ||
| on or after the effective date of this Act. | ||
| SECTION 5. This Act takes effect January 1, 2024. | ||
