Texas 2009 - 81st Regular

Texas House Bill HB4765 Compare Versions

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1	1	H.B. No. 4765
2	2
3	3
4	4	AN ACT
5	5	relating to the computation of the franchise tax.
6	6	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
7	7	SECTION 1. (a) Section 171.002(d), Tax Code, is amended to
8	8	read as follows:
9	9	(d) A taxable entity is not required to pay any tax and is
10	10	not considered to owe any tax for a period if:
11	11	(1) the amount of tax computed for the taxable entity
12	12	is less than $1,000; or
13	13	(2) the amount of the taxable entity's total revenue
14	14	from its entire business is less than or equal to $1 million
15	15	[$300,000] or the amount determined under Section 171.006 per
16	16	12-month period on which margin is based.
17	17	(b) This section takes effect only if H.B. No. 2154, Acts of
18	18	the 81st Legislature, Regular Session, 2009, amends Section
19	19	155.0211, Tax Code, in a manner that results in an increase in the
20	20	revenue from the tax under that section during the state fiscal
21	21	biennium beginning September 1, 2009, that is attributable to that
22	22	change, and that Act is enacted and becomes law. If H.B. No. 2154,
23	23	Acts of the 81st Legislature, Regular Session, 2009, does not amend
24	24	Section 155.0211, Tax Code, in that manner or is not enacted or does
25	25	not become law, this section has no effect.
26	26	(c) If this section takes effect, this section expires
27	27	December 31, 2011.
28	28	(d) This section applies only to a report originally due on
29	29	or after the effective date of this section.
30	30	SECTION 2. (a) Section 171.002(d), Tax Code, is amended to
31	31	read as follows:
32	32	(d) A taxable entity is not required to pay any tax and is
33	33	not considered to owe any tax for a period if:
34	34	(1) the amount of tax computed for the taxable entity
35	35	is less than $1,000; or
36	36	(2) the amount of the taxable entity's total revenue
37	37	from its entire business is less than or equal to $600,000
38	38	[$300,000] or the amount determined under Section 171.006 per
39	39	12-month period on which margin is based.
40	40	(b) This section takes effect January 1, 2012, if H.B. No.
41	41	2154, Acts of the 81st Legislature, Regular Session, 2009, amends
42	42	Section 155.0211, Tax Code, in a manner that results in an increase
43	43	in the revenue from the tax under that section during the state
44	44	fiscal biennium beginning September 1, 2009, that is attributable
45	45	to that change, and that Act is enacted and becomes law. If H.B. No.
46	46	2154, Acts of the 81st Legislature, Regular Session, 2009, does not
47	47	amend Section 155.0211, Tax Code, in that manner or is not enacted
48	48	or does not become law, this section takes effect January 1, 2010.
49	49	(c) This section applies only to a report originally due on
50	50	or after the effective date of this section.
51	51	SECTION 3. (a) Section 171.0021(a), Tax Code, is amended to
52	52	read as follows:
53	53	(a) A taxable entity is entitled to a discount of the tax
54	54	imposed under this chapter that the taxable entity is required to
55	55	pay after determining its taxable margin under Section 171.101,
56	56	applying the appropriate rate of the tax under Section 171.002(a)
57	57	or (b), and subtracting any other allowable credits, as follows:
58	58	(1) [for a taxable entity for which the total revenue
59	59	from its entire business is greater than $300,000 but less than
60	60	$400,000, the taxable entity is entitled to a discount of 80
61	61	percent;
62	62	[(2) for a taxable entity for which the total revenue
63	63	from its entire business is equal to or greater than $400,000 but
64	64	less than $500,000, the taxable entity is entitled to a discount of
65	65	60 percent;
66	66	[(3)] for a taxable entity for which the total revenue
67	67	from its entire business is [equal to or] greater than $600,000
68	68	[$500,000] but less than $700,000, the taxable entity is entitled
69	69	to a discount of 40 percent; and
70	70	(2) [(4)] for a taxable entity for which the total
71	71	revenue from its entire business is equal to or greater than
72	72	$700,000 but less than $900,000, the taxable entity is entitled to a
73	73	discount of 20 percent.
74	74	(b) This section takes effect January 1, 2012, if H.B. No.
75	75	2154, Acts of the 81st Legislature, Regular Session, 2009, amends
76	76	Section 155.0211, Tax Code, in a manner that results in an increase
77	77	in the revenue from the tax under that section during the state
78	78	fiscal biennium beginning September 1, 2009, that is attributable
79	79	to that change, and that Act is enacted and becomes law. If H.B. No.
80	80	2154, Acts of the 81st Legislature, Regular Session, 2009, does not
81	81	amend Section 155.0211, Tax Code, in that manner or is not enacted
82	82	or does not become law, this section takes effect January 1, 2010.
83	83	(c) This section applies only to a report originally due on
84	84	or after the effective date of this section.
85	85	SECTION 4. Except as otherwise provided by this Act, this
86	86	Act takes effect January 1, 2010.
87	87	______________________________ ______________________________
88	88	President of the Senate Speaker of the House
89	89	I certify that H.B. No. 4765 was passed by the House on May 5,
90	90	2009, by the following vote: Yeas 143, Nays 0, 1 present, not
91	91	voting; and that the House concurred in Senate amendments to H.B.
92	92	No. 4765 on May 29, 2009, by the following vote: Yeas 144, Nays 1,
93	93	1 present, not voting.
94	94	______________________________
95	95	Chief Clerk of the House
96	96	I certify that H.B. No. 4765 was passed by the Senate, with
97	97	amendments, on May 27, 2009, by the following vote: Yeas 30, Nays
98	98	1.
99	99	______________________________
100	100	Secretary of the Senate
101	101	APPROVED: __________________
102	102	Date
103	103	__________________
104	104	Governor