| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 86R9675 SMT-F | |
| 2 | 2 | By: King of Uvalde H.B. No. 2864 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | A BILL TO BE ENTITLED | |
| 6 | 6 | AN ACT | |
| 7 | 7 | relating to the E-Z computation of the franchise tax. | |
| 8 | 8 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 9 | 9 | SECTION 1. Section 171.1016(a), Tax Code, is amended to | |
| 10 | 10 | read as follows: | |
| 11 | 11 | (a) Notwithstanding any other provision of this chapter, a | |
| 12 | 12 | taxable entity whose total revenue from its entire business is not | |
| 13 | 13 | more than $25 [$20] million may elect to pay the tax imposed under | |
| 14 | 14 | this chapter in the amount computed and at the rate provided by this | |
| 15 | 15 | section rather than in the amount computed and at the tax rate | |
| 16 | 16 | provided by Section 171.002. | |
| 17 | 17 | SECTION 2. This Act applies only to a report originally due | |
| 18 | 18 | on or after the effective date of this Act. | |
| 19 | 19 | SECTION 3. This Act takes effect January 1, 2020. |