Texas Comptroller of Public Accounts    STAR System


9803216R 



STAR SUPERSEDED WITHOUT SUMMARY 

Accession No.(s): 9803216R

Document superseded on: 08/15/2013 



STATE OF TEXAS
COMPTROLLER OF PUBLIC ACCOUNTS
FRANCHISE TAX


Section 3.545.  Extensions.  (Tax Code, sec. 171.202)

(a) Except for a corporation which has been notified by the comptroller that it 
is required to make its franchise tax payments by electronic funds transfer 
(see sec. 3.575 of this title (relating to Annual Extensions/Electronic Funds 
Transfer)), a corporation will be granted an extension to file an annual report 
on or before the next November 15, if the corporation: 

(1) requests the extension on or before May 15; 

(2) requests the extension on a form provided by the comptroller; and 

(3) remits with the extension request: 

(A) 90% or more of the amount of tax reported as due on the report filed on or 
before November 15; or 

(B) 100% 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 of the 
year for which the extension is requested. 

(b) If the last report due for which a corporation paid a tax in the previous 
calendar year was an initial report, the payment provided in subsection 
(a)(3)(B) of this section must equal the greater of: 

(1) an amount produced by multiplying the net taxable capital, as reported on 
the initial report filed on or before May 14 of the year for which the 
extension is requested, by 0.25% for the 1993 and later reports; or 

(2) an amount produced by multiplying the net taxable earned surplus, as 
reported on the initial report filed on or before May 14 of the year for which 
the extension is requested, by 4.5% for the 1993 and later reports. 

(c) An extension shall not be granted under subsection (a)(3)(B) of this 
section if the report due in the previous calendar year is not filed on or 
before May 14 of the year for which the extension is requested.

(d) Penalty and interest will be calculated as though the following were due 
dates. 

(1) If a corporation is granted an extension and pays, on or before May 15, at 
least 100% 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 of the 
year for which the extension is requested, then November 15 will be the due 
date for any additional tax due. 

(2) If a corporation is granted an extension and pays on or before May 15, 90% 
or more of the tax which will be reported as due on or before November 15, then 
November 15 will be the due date for any additional tax due. 

(3) If a corporation, on or before May 15, requests an extension but does not 
qualify for an extension under paragraphs (1) or (2) of this subsection, then 
May 15 is the due date for 90% of the tax finally determined to be due and 
November 15 is the due date for 10% of the tax finally determined to be due. 

(e) No extensions will be granted for annual franchise tax reports pursuant to 
the Tax Code, sec. 111.057. 


Effective date:  March 29, 1998
Filed with Secretary of State:  March 9, 1998


  
Comptroller of Public Accounts




ACCESSION NUMBER: 9803216R   
SUPERSEDED: Y
DOCUMENT TYPE: R
DATE: 03/29/1998