Honorable Dennis Bonnen, Chair, House Committee on Ways & Means
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
SB1364 by Kolkhorst (relating to electronic filing of certain reports.), Committee Report 2nd House, Substituted
No fiscal implication to the State is anticipated.
The bill would amend Section 111.0626 of the Tax Code to require electronic filing of an information report required from entities subject to the franchise tax but which have no franchise tax liability because the entity's total revenue from its entire business is less than or equal to an amount specified in Section 171.002(d)(2) of this code, which is currently $1,080,000.
The bill would repeal Section 111.0626(b) of the Tax Code, which allows the Comptroller to adopt rules requiring electronic filing of a report not described in the section.
This bill would take effect September 1, 2015.
Local Government Impact
No fiscal implication to units of local government is anticipated.