Petition for Writ of Mandamus - Filed - Supreme Court of Texas

TAX CODE CHAPTER 171. FRANCHISE TAX
http://www.statutes.legis.state.tx.us/Docs/TX/htm/TX.171.htm
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6/25/2012
exempted from the franchise tax for that same tax year.
(b) Farm mutuals, local mutual aid associations, and burial
associations are not subject to the franchise tax.
(c) An entity is subject to the franchise tax for a tax year in
any portion of which the entity is in violation of an order issued by
the Texas Department of Insurance under Section 2254.003(b), Insurance
Code, that is final after appeal or that is no longer subject to
appeal.
Acts 1981, 67th Leg., p. 1693, ch. 389, Sec. 1, eff. Jan. 1, 1982.
Amended by Acts 1985, 69th Leg., ch. 30, Sec. 1, eff. Aug. 26, 1985;
Acts 1993, 73rd Leg., ch. 546, Sec. 2, eff. Jan. 1, 1994; Acts 2001,
77th Leg., ch. 1275, Sec. 1, eff. Sept. 1, 2001; Acts 2003, 78th
Leg., ch. 209, Sec. 33, eff. Oct. 1, 2003.
Amended by:
Acts 2006, 79th Leg., 3rd C.S., Ch. 1, Sec. 3, eff. January 1,
2008.
Sec. 171.0525. EXEMPTION--CERTAIN INSURANCE COMPANIES. A
corporation that is a farm mutual insurance company, local mutual aid
association, or burial association is exempted from the franchise tax.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 23, eff. April 1, 2005.
Sec. 171.053. EXEMPTION--RAILWAY TERMINAL CORPORATION. A
corporation organized as a railway terminal corporation and having no
annual net income from its business is exempted from the franchise tax.
Acts 1981, 67th Leg., p. 1693, ch. 389, Sec. 1, eff. Jan. 1, 1982.
Sec. 171.055. EXEMPTION--OPEN-END INVESTMENT COMPANY. An openend
investment company, as defined by the Investment Company Act of
1940 (Section 80a-1 et seq., 15 U.S.C.), that is subject to that Act
and that is registered under The Securities Act (Article 581-1 et
seq., Vernon's Texas Civil Statutes) is exempted from the franchise
tax.
Acts 1981, 67th Leg., p. 1693, ch. 389, Sec. 1, eff. Jan. 1, 1982.