The Comptroller's office publishes this online newsletter to keep you informed about Texas taxes and what is happening in the Tax Policy Division. Tax Policy News provides general information and is not a substitute for legal or other professional advice.
The deadline for filing a second extension request for mandatory electronic payers is Aug. 15, 2016. Entities must electronically submit payment using the appropriate electronic payment method.
Webfile: Select the file extension option in Webfile and pay the difference, if any, between the amount paid with your first extension and 100 percent of the amount of tax that will be reported as due on the report filed on or before Nov. 15. You do not need to submit a paper Extension Request form if you select the file extension option in Webfile.
TexNet: Select the extension payment option, and pay the difference between the amount paid with your first extension and 100 percent of the amount of tax that will be reported as due on or before Nov. 15. You do not need to request an extension in Webfile or submit a paper Extension Request form if you select the extension payment option in TEXNET. If all of the tax due was paid with the entity's first extension, use franchise tax Webfile, or submit Form 05-164, Texas Franchise Tax Extension Request, to request a second extension.
For more information regarding extensions, see Franchise Tax Extensions of Time to File.
On July 22, the Comptroller's office will mail the "Texas Notice of Intent to Forfeit Right to Transact Business" to taxable entities that failed to satisfy franchise tax requirements for the report that was due May 16, if an extension was not granted.
The first semi-annual payment of the Automobile Burglary and Theft Prevention Authority assessment is due Aug. 1. For more information, see Form 25-107, Texas Automobile Burglary and Theft Prevention Authority Assessment Semi-Annual Payment Worksheet.
Licensed insurance companies, licensed captive insurers and miscellaneous organizations with a net tax liability for the previous calendar year in excess of $1,000 must prepay premium tax semi-annually.
The second semi-annual prepayment is due Aug. 1.
For more information, see Form 25-101, Texas Semi-Annual Insurance Premium Tax Payment Worksheet.
The Comptroller's office mailed billings for the Volunteer Fire Department Assistance Fund Assessment at the end of May for the assessment due Aug. 1, 2016.
The Commissioner of Insurance determined the amount to be assessed is $18,562,654 for each state fiscal year 2016 and 2017.
This assessment applies to property and casualty insurers writing homeowners insurance, fire insurance, farm and ranch owners insurance, private passenger auto physical damage insurance, commercial auto physical damage insurance or commercial multi-peril insurance.
You can buy certain items tax free during the annual back-to-school sales tax holiday. This year's holiday begins on Friday, Aug. 5, and goes through Sunday, Aug. 7. The exemption applies to certain school supplies, clothing, shoes, and backpacks priced under $100.
Textbooks, computers and software are not exempt during this sales tax holiday.
See Texas Sales Tax Holidays for information about other sales tax holidays.
The Comptroller's office is hosting a roundtable on comments on the proposed version of Rule 3.584, Margin: Reports and Payments.
Interested parties are invited to participate either in person or by telephone. Registration is required to attend, and the deadline to register is July 21. Online registration is available.
We may have to move to a different location than what is shown below, in order to accommodate as many people as possible, depending on the level of interest. We will keep you informed. We will notify participants via email by July 22. If you have already registered, there is no need to register again.Date: Thursday, Aug. 4, 2016
We have updated Publication 94-105, Guidelines for Collecting Local Sales and Use Tax with current information based on Rule 3.334, Local Sales and Use Taxes. It also has a new name, Local Sales and Use Tax Collection – A Guide for Sellers.
On July 5, the Taxpayer Services and Collections Field Office in San Antonio moved from Console Ave. to a new location on San Pedro Ave.Address: 10010 San Pedro Avenue, Suite 410, San Antonio, Texas 78216-3862
The Comptroller's office proposed the following rule for public comment through the Texas Register.
Rule 3.583 – Margin: Exemptions
Publication date – July 15, 2016.
Comment period end date – Aug. 14, 2016.
The Comptroller's office filed the following rules for adoption with the Secretary of State:
Rule 3.582 – Margin: Passive Entities
Publication date – June 24, 2016.
Effective date – June 28, 2016.
Rule 3.588 – Margin: Cost of Goods Sold
Publication date – July 8, 2016
Effective date – July 13, 2016