Margin Tax Technical Corrections Conference Report Filed

The conference committee on HB 3928, the margin tax technical corrections bill, has filed their report with the Secretary of the Senate.  The report eliminates the section of the bill that encompassed the "anti-Sprint" amendment.  This section of the bill was added in the House by Rep. Smithee (R-Amarillo) as a reaction to Sprint adding a surcharge to phone bills for the franchise tax, even before Sprint paid any such tax.  The Smithee amendment confiscated any such collections for the state in addition to the regular franchise tax.  The Senate version changed the Smithee amendment to allow a taxpayer to invoice customers as long as it was after the fact and for the actual amount of the tax.  Smithee evidently didn't like that reversal and the compromise appears to eliminate that section entirely.  Click here to review a copy of the conference committee report.