Texas Comptroller of Public Accounts    STAR System


9203R1163E14 



STAR SUPERSEDED WITHOUT SUMMARY 

Accession No.(s): 9203R1163E14

Document superseded on: 08/15/2013 



STATE OF TEXAS
COMPTROLLER OF PUBLIC ACCOUNTS
FRANCHISE TAX


Rule 3.550. Taxable Capital: Stated Capital.

(a) For franchise tax purposes "stated capital" has the same meaning as defined 
in Texas Business Corporation Act. Texas Business Corporation Act, Article 
1.02, defines "stated capital" as the sum of:

(1) the par value of all shares of the corporation having a par value that have 
been issued;

(2) the consideration fixed by the corporation in the manner provided by the 
Texas Business Corporation Act, Article 2.15, for all shares of the corporation 
without par value that have been issued, except such part of the consideration 
that is actually received therefore (which part must be less than all of that 
consideration) that the board by resolution adopted no later than 60 days after 
the issuance of those shares may have allocated to surplus; and

(3) such amounts not included in paragraphs (1) and (2) of this subsection as 
have been transferred to stated capital of the corporation, whether upon the 
payment of a share dividend or upon adoption by the board of directors of a 
resolution directing that all or part of surplus be transferred to stated 
capital, minus all reductions from such sum as have been effected in a manner 
permitted by law.

(b) Treasury shares are included in stated capital until the shares are 
cancelled and restored to the status of authorized but unissued shares in 
accordance with the laws of the state in which a corporation is incorporated. 
See Rule 3.551 concerning Taxable Capital: Surplus for an explanation of how 
treasury shares affect surplus.

(c) Redeemable preferred stock is included in stated capital, unless it is 
debt.


Effective Date: March 16, 1992
Filed with Secretary of State: February 24, 1992


 
Comptroller of Public Accounts




ACCESSION NUMBER: 9203R1163E14   
SUPERSEDED: Y 
DOCUMENT TYPE: R 
DATE: 03/16/1992
TAX TYPE: FRANCHISE