81R9225 BEF-D
By: King of Parker H.B. No. 1788
A BILL TO BE ENTITLED
AN ACT
relating to the minimum franchise tax amount for which no tax
payment is due.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 171.002(d), Tax Code, 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 $10,000 [$1,000]; or
(2) the amount of the taxable entity's total revenue
from its entire business is less than or equal to $300,000 or the
amount determined under Section 171.006 per 12-month period on
which margin is based.
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, 2010.