General and Special Laws of The State of Texas Passed By The Second Called Session of the Sixty-Eighth Legislature and the Regular Session of the Sixty-Ninth Legislature Page: 74
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68th LEGIS-2nd CALLED SESSION
"(b) The corporation shall file the report before March nfe] 16 of each year before the
beginning of the regular annual period. The report shall be filed on forms supplied by the
SECTION 4. Section 171.202, Tax Code, is amended by adding Subsections (c) and (d) to
read as follows:
"(c) The comptroller shall grant an extension of time for the filing of a report required by this
section to any date on or before the next June 15, ifa corporation:
"(1) requests the extension, on or before March 15, on a form provided by the comptroller;
"(2) remits with the request:
"(A) not less than 90 percent of the amount of tax reported as due on the report filed on
or before June 15; or
"(B) 100 percent of the tax paid in the previous year, but in no case less than $55.
"(d) In the case of a taxpayer whose previous return was its initial report, the optional payment
provided under Paragraph (B) of Subdivision (2) of Subsection (c) of this section must be equal to
an amount produced by multiplying the prior year's payment by a ratio of 12 divided by the
number of months covered by the initial report."
SECTION 5. Section 171.251, Tax Code, is amended to read as follows:
"Section 171.251. FORFEITURE OF CORPORATE PRIVILEGES. The comptroller shall
forfeit the corporate privileges of a corporation on which the franchise tax is imposed if the
"(1) does not file, in accordance with this chapter and within 90 days after the date it is
due, an initial report required by Section 171.201 of this code;
"(2) does not file, in accordance with this chapter and before June [September] 16 of the
year in which it is due, an annual report that is required by Section 171.202 of this code;
"(3) does not pay, before June [September] 16 of the year in which it is due, a tax
imposed by this chapter that is due under Section 171.152(c) of this code on the preceding
March [Jf e] 15 or does not pay, before June [September] 16, a penalty imposed by this
chapter relating to that tax;
"(4) does not pay, within 90 days after the date it is due, a tax imposed by this chapter
that is due under Section 171.152 of this code on a date other than March J.e] 15 or does
not pay, within those 90 days, a penalty imposed by this chapter relating to that tax; or
"(5) does not permit the comptroller, the state auditor, or the state auditor's authorized
representative to examine under Section 171.211 of this code the corporation's records."
SECTION 6. Section 171.309, Tax Code, is amended to read as follows:
"Section 171.309. FORFEITURE BY SECRETARY OF STATE. The secretary of state
may forfeit the charter or certificate of authority of a corporation if:
"(1) the secretary receives the comptroller's certification under Section 171.302 of this
"(2) the corporation does not revive its forfeited corporate privileges within 120 days after
[befee January I following] the date that the corporate privileges were forfeited; and
"(3) the corporation does not have assets from which a judgment for any tax, penalty, or
court costs imposed by this chapter may be satisfied."
SECTION 7. Section 171.362, Tax Code, is amended by adding Subsections (d) and (e) to
read as follows:
"(d) If a corporation electing to remit under Paragraph (A) of Subdivision (2) of Subsection (c)
of Section 171.202 of this code remits less than the amount required, the penalties imposed by this
section and the interest imposed under Section 111.060 of this code are assessed against the
difference between the amount required to be remitted under Paragraph (A) of Subdivision (2) of
Subsection (c) of Section 171.202 and the amount actually remitted on or before March 15.
"(e) If a corporation remits the entire amount required by Subsection (c) of Section 171.202 of
this code, no penalties will be imposed against the difference between the amount finally
determined to be due and the amount remitted on or before March 15."
SECTION 1. This Act takes effect September I, 1984.
SECTION 2. The importance of this legislation and the crowded condition of the calendars
in both houses create an emergency and an imperative public necessity that the constitutional
rule requiring bills to be read on three several days in each house be suspended, and this rule is
hereby suspended, and that this Act take effect and be in force according to its terms, and it is so
CH 10, SEC III-3
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Texas. Legislature. General and Special Laws of The State of Texas Passed By The Second Called Session of the Sixty-Eighth Legislature and the Regular Session of the Sixty-Ninth Legislature, legislative document, 1985; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth221803/m1/78/: accessed May 23, 2019), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.