| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 81R9225 BEF-D | |
| 2 | 2 | By: King of Parker H.B. No. 1788 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | A BILL TO BE ENTITLED | |
| 6 | 6 | AN ACT | |
| 7 | 7 | relating to the minimum franchise tax amount for which no tax | |
| 8 | 8 | payment is due. | |
| 9 | 9 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 10 | 10 | SECTION 1. Section 171.002(d), Tax Code, is amended to read | |
| 11 | 11 | as follows: | |
| 12 | 12 | (d) A taxable entity is not required to pay any tax and is | |
| 13 | 13 | not considered to owe any tax for a period if: | |
| 14 | 14 | (1) the amount of tax computed for the taxable entity | |
| 15 | 15 | is less than $10,000 [$1,000]; or | |
| 16 | 16 | (2) the amount of the taxable entity's total revenue | |
| 17 | 17 | from its entire business is less than or equal to $300,000 or the | |
| 18 | 18 | amount determined under Section 171.006 per 12-month period on | |
| 19 | 19 | which margin is based. | |
| 20 | 20 | SECTION 2. This Act applies only to a report originally due | |
| 21 | 21 | on or after the effective date of this Act. | |
| 22 | 22 | SECTION 3. This Act takes effect January 1, 2010. |