Texas § TX.171.1016 - E-Z COMPUTATION AND RATE
Full text of Texas The Texas Constitution § TX.171.1016 — E-Z COMPUTATION AND RATE, with citation guidance and answers to common questions.
§ TX.171.1016. E-Z COMPUTATION AND RATE
E-Z COMPUTATION AND RATE. (a) Notwithstanding any other provision of this chapter, a taxable entity whose total revenue from its entire business is not more than $20 million may elect to pay the tax imposed under this chapter in the amount computed and at the rate provided by this section rather than in the amount computed and at the tax rate provided by Section 171.002 . (b) The amount of the tax for which a taxable entity that elects to pay the tax as provided by this section is liable is computed by: (1) determining the taxable entity's total revenue from its entire business, as determined under Section 171.1011 ; (2) apportioning the amount computed under Subdivision (1) to this state, as provided by Section 171.106 , to determine the taxable entity's apportioned total revenue; and (3) multiplying the amount computed under Subdivision (2) by the rate of 0.331 percent. (c) A taxable entity that elects to pay the tax as provided by this section may not take a credit, deduction, or other adjustment that is not specifically authorized by this section. (d) Repealed by Acts 2013, 83rd Leg., R.S., Ch. 1232, Sec. 15, eff. January 1, 2014. (e) A reference in this chapter or other law to the rate of the franchise tax means, as appropriate, the rate under Section 171.002 or, for a taxable entity that elects to pay the tax as provided by this section, the rate under this section. Added by Acts 2007, 80th Leg., R.S., Ch. 1282 (H.B. 3928 ), Sec. 19, eff. January 1, 2008. Transferred from Tax Code, Section 171.1016 by Acts 2011, 82nd Leg., R.S., Ch. 91 (S.B. 1303 ), Sec. 27.001(58), eff. September 1, 2011. Amended by: Acts 2013, 83rd Leg., R.S., Ch. 1232 (H.B. 500 ), Sec. 15, eff. January 1, 2014. Acts 2015, 84th Leg., R.S., Ch. 449 (H.B. 32 ), Sec. 3, eff. January 1, 2016.
Frequently Asked Questions About Texas § TX.171.1016
What does The Texas Constitution § TX.171.1016 cover?
Section TX.171.1016 ("E-Z COMPUTATION AND RATE") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § TX.171.1016?
A common citation format is "The Texas Constitution § TX.171.1016" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § TX.171.1016 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.