Texas § TX.171.151 - PRIVILEGE PERIOD COVERED BY TAX
Full text of Texas The Texas Constitution § TX.171.151 — PRIVILEGE PERIOD COVERED BY TAX, with citation guidance and answers to common questions.
§ TX.171.151. PRIVILEGE PERIOD COVERED BY TAX
PRIVILEGE PERIOD COVERED BY TAX. The franchise tax shall be paid for each of the following: (1) an initial period beginning on the taxable entity's beginning date and ending on the day before the first anniversary of the beginning date; (2) a second period beginning on the first anniversary of the beginning date and ending on December 31 following that date; and (3) after the initial and second periods have expired, a regular annual period beginning each year on January 1 and ending the following December 31. Acts 1981, 67th Leg., p. 1699, ch. 389, Sec. 1, eff. Jan. 1, 1982. Amended by Acts 1985, 69th Leg., ch. 31, Sec. 5, eff. Aug. 26, 1985; Acts 1991, 72nd Leg., 1st C.S., ch. 5, Sec. 8.11, eff. Jan. 1, 1992; Acts 1995, 74th Leg., ch. 1002, Sec. 14, eff. Jan. 1, 1996. Amended by: Acts 2006, 79th Leg., 3rd C.S., Ch. 1 (H.B. 3 ), Sec. 6, eff. January 1, 2008.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § TX.171.151
What does The Texas Constitution § TX.171.151 cover?
Section TX.171.151 ("PRIVILEGE PERIOD COVERED BY TAX") 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.171.151?
A common citation format is "The Texas Constitution § TX.171.151" (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.171.151 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.