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A BILL TO BE ENTITLED
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AN ACT
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relating to certain reimbursements and discounts allowed for the |
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collection and payment of sales and use taxes. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 151.423, Tax Code, is amended to read as |
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follows: |
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Sec. 151.423. REIMBURSEMENT TO TAXPAYER FOR TAX |
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COLLECTIONS. (a) In this section: |
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(1) "Credit card" means a card or equivalent device |
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used to make purchases based on the cardholder's promise to pay the |
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issuer of the card for the amount of the purchase and any associated |
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interest and fees. |
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(2) "Credit card sale" means a sale of a taxable item |
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paid for by the purchaser using a credit card. |
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(b) As reimbursement for the cost of collecting the taxes |
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imposed by this chapter, a [A] taxpayer may on a timely return |
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deduct and withhold: |
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(1) one-half of one percent of the amount of taxes due |
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from the taxpayer, other than taxes imposed on credit card sales; |
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and |
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(2) 2.5 percent of the amount of taxes imposed on |
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credit card sales due from the taxpayer [on a timely return as |
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reimbursement for the cost of collecting the taxes imposed by this |
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chapter]. |
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(c) The comptroller shall provide a card with each form |
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distributed for the collection of taxes under this chapter. The |
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card may be inserted by the taxpayer with the tax payment to provide |
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for contribution of all or part of the reimbursement provided by |
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this section for use as grants under Subchapter M, Chapter 56, |
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Education Code. If the taxpayer chooses to contribute the |
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reimbursement for the grants, the taxpayer shall include the amount |
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of the reimbursement contribution with the tax payment. The |
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comptroller shall transfer money contributed under this section for |
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grants under Subchapter M, Chapter 56, Education Code, to the |
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appropriate fund. |
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SECTION 2. Section 151.424, Tax Code, is amended by |
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amending Subsection (a) and adding Subsection (a-1) to read as |
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follows: |
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(a) A taxpayer who prepays the taxpayer's tax liability of |
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taxes described by Section 151.423(b)(1) on the basis of a |
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reasonable estimate of the tax liability for a quarter in which a |
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prepayment is made or for a month in which a prepayment is made may |
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deduct and withhold 1.25 percent of the amount of the prepayment in |
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addition to the amount permitted to be deducted and withheld under |
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that section [Section 151.423 of this code]. A reasonable estimate |
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of the tax liability must be at least 90 percent of that [the] tax |
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ultimately due or the amount of that tax paid in the same quarter, |
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or month, if a monthly prepayer, in the last preceding year. Failure |
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to prepay a reasonable estimate of the tax will result in the loss |
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of the entire prepayment discount. |
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(a-1) A taxpayer may not deduct or withhold any amount under |
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this section of a prepayment of the taxpayer's tax liability for |
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taxes described by Section 151.423(b)(2). |
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SECTION 3. Section 151.423, Tax Code, as amended by this |
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Act, applies to a tax report due on or after the effective date of |
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this Act. A tax report due before the effective date of this Act is |
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governed by the law in effect on the date the tax report was due, and |
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the former law is continued in effect for that purpose. |
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SECTION 4. Section 151.424, Tax Code, as amended by this |
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Act, applies to a prepayment of tax liability made on or after the |
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effective date of this Act. A prepayment of tax liability made |
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before the effective date of this Act is governed by the law in |
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effect on the date the prepayment was made, and the former law is |
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continued in effect for that purpose. |
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SECTION 5. This Act takes effect October 1, 2023. |