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
Page 56 of 88
6/25/2012
(b) A taxable entity may deduct from its apportioned margin 10
percent of the amortized cost of equipment:
(1) that is used in a clean coal project;
(2) that is acquired by the taxable entity for use in
generation of electricity, production of process steam, or industrial
production;
(3) that the taxable entity uses in this state; and
(4) the cost of which is amortized in accordance with
Subsection (c).
(c) The amortization of the cost of capital used in a clean
coal project must:
(1) be for a period of at least 60 months;
(2) provide for equal monthly amounts;
(3) begin in the month during which the equipment is
placed in service in this state; and
(4) cover only a period during which the equipment is used
in this state.
(d) A taxable entity that makes a deduction under this section
shall file with the comptroller an amortization schedule showing the
period for which the deduction is to be made. On the request of the
comptroller, the taxable entity shall file with the comptroller proof
of the cost of the equipment or proof of the equipment's operation in
this state.
Added by Acts 2005, 79th Leg., Ch. 1097, Sec. 4, eff. June 18, 2005.
Amended by:
Acts 2006, 79th Leg., 3rd C.S., Ch. 1, Sec. 5, eff. January 1,
2008.
For expiration of this section, see Subsection (e).
Sec. 171.111. TEMPORARY CREDIT ON TAXABLE MARGIN. (a) On the
first report originally due under this chapter on or after January 1,
2008, a taxable entity must notify the comptroller in writing of its
intent to take a credit in an amount allowed by this section on the
tax due on taxable margin. The taxable entity may thereafter elect to
claim the credit for the current year and future year at or before the
original due date of any report due after January 1, 2008, until the
taxable entity revokes the election or this section expires, whichever