Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
SB873 by Hancock (Relating to disclosure by the comptroller to the purchaser of a business of the amount of tax due.), As Introduced
No fiscal implication to the State is anticipated.
The bill would amend Section 111.020(c) of the Tax Code to allow the Comptroller to prescribe a form for the purchaser of a business to request a certificate of no tax due for the business being purchased.
The bill would add Section 111.020(c-1) to allow the Comptroller to release to the purchaser of a business a certificate of no tax due or a statement of the amount required to be paid before a certificate can be issued.
Local Government Impact
No fiscal implication to units of local government is anticipated.