200609758L




September 6, 2006

To: ************** 
**************

Dear **************:

Thank you for your e-mails (dated August 2 and August 8) regarding the Texas 
franchise tax with the margin calculation. 

You asked in your message if the form that allows a taxpayer to apply for the 
credit for prior year business losses is available.  You also asked if the 
deadline for filing the credit has been changed.

The credit preservation discussed in Tax Code Section 171.111 of House Bill 
(HB) 3 was originally scheduled to happen on or before March 1, 2007. Because 
of other issues in this section of the bill we hope to postpone the credit 
preservation until September 1, 2007, by rule.

Information about the Texas franchise tax as it exists today as well as 
information about HB 3 can be found on our website 
http://window.state.tx.us/taxinfo/franchise/.  You will find a link on this 
site to this agency's publication, The Revised Franchise Tax Overview (98-806) 
which includes an overview of the new margin tax base; a calculator that may be 
used to estimate a taxable entity's potential tax liability; and a link to the 
text of HB 3. 

If you have any questions about this or any other franchise tax matter, please 
call me at 1-800-531-5441, extension 34612. My direct number is (512) 463-4612. 
You may write me at Tax Policy Division, Comptroller of Public Accounts, 
Austin, Texas 78774.  

Sincerely,


Janet Spies 
Tax Policy Division




From: **************
Sent: Wednesday, August 02, 2006 4:54 PM
To: Margin Tax
Subject: New Margin Tax Forms

Are the new forms ready that allow a taxpayer to apply for the credit for prior 
year business loss carryovers?   I attended a seminar a few weeks ago that 
informed me that the deadline for filing for this credit would be September 1, 
2006.   Has there been any changes to the date?   

Thanks!


**************



From: **************
Sent: Tuesday, August 08, 2006 11:16 AM
To: Margin Tax
Subject: margin tax credit form

Are the new forms ready that allow a taxpayer to apply for the credit for prior 
year business loss carryovers?   I attended a seminar a few weeks ago that 
informed me that the deadline for filing for this credit would be September 1, 
2006.   Has there been any changes to the date?

Thanks!


**************




ACCESSION NUMBER: 200609758L
SUPERSEDED: N
DOCUMENT TYPE: L
DATE: 09/06/2006
TAX TYPE: FRANCHISE