Franchise Tax is Technically Corrected

The 80th Legislature passed HB 3928 providing technical corrections for the revised franchise tax on taxable margin.  The bill finally passed was essentially the same as that passed by the Senate with the exception that the so-called "anti-Sprint" amendment was eliminated.  This amendment started out in the House as an additional franchise tax confiscating any specific collections from customers of fees identified as the Texas franchise tax.  The Senate amended the bill to actually allow the pass through of the franchise tax if it was after the fact and for the actual amounts paid.  The compromise in the conference committee was to eliminate that section entirely.  Click here for a summary of the bill as finally passed and sent to the Governor.