80th Texas Legislature, Regular Session, House Bill 1207, Chapter 1195 Page: 1 of 5
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Chapter 1195
H.B. No. 1207
1 AN ACT
2 relating to corrections to the revised franchise tax transition
3 provisions of House Bill No. 3, 79th Legislature, 3rd Called
4 Session, 2006.
5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
6 SECTION 1. Section 22, Chapter 1, Acts of the 79th
7 Legislature, 3rd Called Session, 2006, is amended by amending
8 Subsection (b) and adding Subsections (b-l), (b-2), and (g) to read
9 as follows:
10 (b) For an entity becoming subject to the franchise tax
11 under this Act:
12 (1) margin or gross receipts occurring before June 1,
13 2006, may not be considered for purposes of determining taxable
14 margin or for apportionment purposes; and
15 (2) an entity subject to the franchise tax on January
16 1, 2008, that was not previously subject to the tax and for which
17 January 1, 2008, is not the beginning date, shall file an annual
18 report due May 15, 2008, based on the period:
19 (A) if the entity has an accounting period that
20 ends on or after January 1, 2007, and before June 1, 2007:
21 (1) beginning on the later of:
22 (a) June i, 2006; or
23 (b) the date the entity was organized
24 In this state or, if a foreign entity, the date it began doing
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Texas. Legislature. House of Representatives. 80th Texas Legislature, Regular Session, House Bill 1207, Chapter 1195, legislative document, 2007-05/2007-06; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth154698/m1/1/: accessed May 6, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.