Texas House Bill HB3399

Texas 2015 - 84th Regular

Caption

Relating to franchise tax payments and reports.

Impact

One notable change introduced by HB3399 includes provisions regarding electronic funds transfers for tax payments, which would be considered made on the date it is initiated by the taxpayer. This aims to clarify the timing of when a payment is deemed timely made, potentially streamlining the payment process for businesses. Furthermore, the bill repeals several outdated subsections of the tax code that deal with tax payment protocols, simplifying the tax code for franchise taxes.

Summary

House Bill 3399 seeks to amend the Texas Tax Code specifically concerning the payments and reports associated with franchise taxes. The bill aims to adjust the deadlines for tax payments and provides details on how taxpayers can extend their payment due dates. Under the proposed changes, taxable entities would have specific deadlines for tax payments, and if requests for extensions are made, the conditions for these extensions would also be clearly outlined.

Contention

While the bill is primarily technical, its handling of deadlines for tax payments could bring about discussion among stakeholders regarding the compliance burden on small businesses. There may be concerns from smaller tax entities about the capability to meet new requirements or the financial implications of being penalized for late payments due to stringent interpretations of electronic payment timing. However, the law's intended simplification and clarity are generally seen as positive for broader compliance efforts.

Last_action

The Bill was left pending in committee as of May 7, 2015, indicating that further discussions and modifications may be needed before it advances to a vote.