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 63 of 88
6/25/2012
(d) In the case of a taxpayer whose previous return was its
initial report, the optional payment provided under Subsection (c)(2)
(B) or (e)(2)(B) must be equal to an amount produced by multiplying
the taxable margin, as reported on the initial report filed on or
before May 14, by the rate of tax in Section 171.002 that is effective
January 1 of the year in which the report is due.
(e) The comptroller shall grant an extension of time for the
filing of a report required by this section by a taxable entity
required by rule to make its tax payments by electronic funds transfer
to any date on or before the next August 15, if the taxable entity:
(1) requests the extension, on or before May 15, on a form
provided by the comptroller; and
(2) remits with the request:
(A) not less than 90 percent of the amount of tax
reported as due on the report filed on or before August 15; or
(B) 100 percent of the tax reported as due for the
previous calendar year on the report due in the previous calendar year
and filed on or before May 14.
(f) The comptroller shall grant an extension of time to a
taxable entity required by rule to make its tax payments by electronic
funds transfer for the filing of a report due on or before August 15
to any date on or before the next November 15, if the taxable entity:
(1) requests the extension, on or before August 15, on a
form provided by the comptroller; and
(2) remits with the request the difference between the
amount remitted under Subsection (e) and 100 percent of the amount of
tax reported as due on the report filed on or before November 15.
(h) If the sum of the amounts paid under Subsections (e)(2) and
(f)(2) is at least 99 percent of the amount reported as due on the
report filed on or before November 15, penalties for underpayment with
respect to the amount paid under Subsection (f)(2) are waived.
(i) If a taxable entity requesting an extension under
Subsection (c) or (e) does not file the report due in the previous
calendar year on or before May 14, the taxable entity may not receive
an extension under Subsection (c) or (e) unless the taxable entity
complies with Subsection (c)(2)(A) or (e)(2)(A), as appropriate.
Acts 1981, 67th Leg., p. 1701, ch. 389, Sec. 1, eff. Jan. 1, 1982.
Amended by Acts 1983, 68th Leg., p. 297, ch. 63, Sec. 2, eff. Aug. 29,