81R6204 BEF-D
By: Harper-Brown H.B. No. 2944
A BILL TO BE ENTITLED
AN ACT
relating to the franchise tax rates.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Sections 171.002(a) and (b), Tax Code, are
amended to read as follows:
(a) Subject to Sections 171.003 and 171.1016 and except as
provided by Subsection (b), the rate of the franchise tax is 0.5
[one] percent of taxable margin.
(b) Subject to Sections 171.003 and 171.1016, the rate of
the franchise tax is 0.25 [0.5] percent of taxable margin for those
taxable entities primarily engaged in retail or wholesale trade.
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.