Petition for Writ of Mandamus - Filed - Supreme Court of Texas
Petition for Writ of Mandamus - Filed - Supreme Court of Texas
Petition for Writ of Mandamus - Filed - Supreme Court of Texas
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TAX CODE CHAPTER 171. FRANCHISE TAX<br />
http://www.statutes.legis.state.tx.us/Docs/TX/htm/TX.171.htm<br />
Page 69 <strong>of</strong> 88<br />
6/25/2012<br />
Acts 2006, 79th Leg., 3rd C.S., Ch. 1, Sec. 7, eff. January 1,<br />
2008.<br />
Sec. 171.211. EXAMINATION OF RECORDS. To determine the<br />
franchise tax liability <strong>of</strong> a taxable entity, the comptroller may<br />
investigate or examine the records <strong>of</strong> the taxable entity.<br />
Acts 1981, 67th Leg., p. 1703, ch. 389, Sec. 1, eff. Jan. 1, 1982.<br />
Amended by Acts 1989, 71st Leg., ch. 584, Sec. 109, eff. Sept. 1, 1989.<br />
Amended by:<br />
Acts 2006, 79th Leg., 3rd C.S., Ch. 1, Sec. 7, eff. January 1,<br />
2008.<br />
Sec. 171.212. REPORT OF CHANGES TO FEDERAL INCOME TAX RETURN.<br />
(a) A taxable entity must file an amended report under this chapter<br />
if:<br />
(1) the taxable entity's taxable margin is changed as the<br />
result <strong>of</strong> an audit or other adjustment by the Internal Revenue Service<br />
or another competent authority; or<br />
(2) the taxable entity files an amended federal income tax<br />
return or other return that changes the taxable entity's taxable<br />
margin.<br />
(b) The taxable entity shall file the amended report under<br />
Subsection (a)(1) not later than the 120th day after the date the<br />
revenue agent's report or other adjustment is final. For purposes <strong>of</strong><br />
this subsection, a revenue agent's report or other adjustment is final<br />
on the date on which all administrative appeals with the Internal<br />
Revenue Service or other competent authority have been exhausted or<br />
waived.<br />
(c) The taxable entity shall file the amended report under<br />
Subsection (a)(2) not later than the 120th day after the date the<br />
taxable entity files the amended federal income tax return or other<br />
return. For purposes <strong>of</strong> this subsection, a taxable entity is<br />
considered to have filed an amended federal income tax return if the<br />
taxable entity is a member <strong>of</strong> an affiliated group during a period in<br />
which an amended consolidated federal income tax report is filed.<br />
(d) If a taxable entity fails to comply with this section, the<br />
taxable entity is liable <strong>for</strong> a penalty <strong>of</strong> 10 percent <strong>of</strong> the tax that
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