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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 provided for |
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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. Subject to Section 151.4241, a [A] taxpayer may |
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deduct and withhold one-half of one percent of the amount of taxes |
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due from the taxpayer on a timely return as reimbursement for the |
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cost of collecting the taxes imposed by this chapter. The |
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comptroller shall provide a card with each form distributed for the |
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collection of taxes under this chapter. The card may be inserted by |
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the taxpayer with the tax payment to provide for contribution of all |
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or part of the reimbursement provided by this section for use as |
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grants under Subchapter M, Chapter 56, Education Code. If the |
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taxpayer chooses to contribute the reimbursement for the grants, |
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the taxpayer shall include the amount of the reimbursement |
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contribution with the tax payment. The comptroller shall transfer |
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money contributed under this section for grants under Subchapter M, |
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Chapter 56, Education Code, to the appropriate fund. |
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SECTION 2. Sections 151.424(a) and (c), Tax Code, are |
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amended to read as follows: |
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(a) Subject to Section 151.4241, a [A] taxpayer who prepays |
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the taxpayer's tax liability on the basis of a reasonable estimate |
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of the tax liability for a quarter in which a prepayment is made or |
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for a month in which a prepayment is made may deduct and withhold |
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1.25 percent of the amount of the prepayment in addition to the |
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amount permitted to be deducted and withheld under Section 151.423 |
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[of this code]. A reasonable estimate of the tax liability must be |
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at least 90 percent of the tax ultimately due or the amount of tax |
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paid in the same quarter, or month, if a monthly prepayer, in the |
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last preceding year. Failure to prepay a reasonable estimate of the |
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tax will result in the loss of the entire prepayment discount. |
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(c) A taxpayer who prepays the tax liability as permitted by |
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this section must file a report when due as provided by this |
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chapter. The amount of a prepayment made by a taxpayer under this |
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section shall be credited against the amount of actual tax |
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liability of the taxpayer as shown on the tax report of the |
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taxpayer. If there is a tax liability owed by the taxpayer in |
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excess of the prepayment credit, the taxpayer shall send to the |
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comptroller the remaining tax liability at the time of filing the |
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quarterly or monthly report. Subject to Section 151.4241, the |
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[The] taxpayer is entitled to the deduction permitted under Section |
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151.423 [of this code] on the amount of the remaining tax liability. |
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SECTION 3. Subchapter I, Chapter 151, Tax Code, is amended |
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by adding Section 151.4241 to read as follows: |
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Sec. 151.4241. LIMITATION ON AMOUNTS OF REIMBURSEMENTS AND |
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DISCOUNTS. (a) The amount deducted and withheld by a taxpayer |
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under Section 151.423 may not exceed $312.50 each state fiscal |
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year. |
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(b) The amount deducted and withheld by a taxpayer under |
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Section 151.424 may not exceed $3,906.25 each state fiscal year. |
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(c) The comptroller shall adopt rules for determining to |
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which state fiscal year amounts deducted and withheld by a taxpayer |
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under Section 151.424 will be allocated for purposes of this |
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section. |
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SECTION 4. 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 5. 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 6. The change in law made by this Act does not |
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affect tax liability accruing before the effective date of this |
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Act. That liability continues in effect as if this Act had not been |
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enacted, and the former law is continued in effect for the |
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collection of taxes due and for civil and criminal enforcement of |
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the liability for those taxes. |
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SECTION 7. This Act takes effect September 1, 2011. |