86R9675 SMT-F
By: King of Uvalde H.B. No. 2864
A BILL TO BE ENTITLED
AN ACT
relating to the E-Z computation of the franchise tax.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 171.1016(a), Tax Code, is amended to
read as follows:
(a) Notwithstanding any other provision of this chapter, a
taxable entity whose total revenue from its entire business is not
more than $25 [$20] million may elect to pay the tax imposed under
this chapter in the amount computed and at the rate provided by this
section rather than in the amount computed and at the tax rate
provided by Section 171.002.
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, 2020.