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A BILL TO BE ENTITLED
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AN ACT
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relating to the E-Z computation of the franchise tax. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 171.1016(a), Tax Code, is amended to |
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read as follows: |
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(a) Notwithstanding any other provision of this chapter, a |
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taxable entity whose total revenue from its entire business is not |
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more than $25 [$20] million may elect to pay the tax imposed under |
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this chapter in the amount computed and at the rate provided by this |
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section rather than in the amount computed and at the tax rate |
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provided by Section 171.002. |
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SECTION 2. This Act applies only to a report originally due |
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on or after the effective date of this Act. |
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SECTION 3. This Act takes effect January 1, 2020. |