Law:Title 3. Department Funds, Fees, And Taxes. Subtitle C. Insurance Maintenance Taxes from Chapter 260. Nonprofit Legal Services Corporations (Texas)

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Subtitle C. Insurance Maintenance Taxes

Contents

Chapter 260. Nonprofit Legal Services Corporations

Section  260.001.  Maintenance Tax Imposed. A M

aintenance tax is imposed on each nonprofit legal services corporation subject to Chapter 961 with gross revenues subject to taxation under Section 260.003. The tax required by this chapter is in addition to other taxes imposed that are not in conflict with this chapter.

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.



Section  260.002.  Maximum Rate; Annual Adjustment. (a)

The rate of assessment set by the commissioner may not exceed one percent of the corporation's gross revenues subject to taxation under Section 260.003.

(b)  The commissioner shall annually adjust the rate of assessment of the maintenance tax so that the tax imposed that year, together with any unexpended funds produced by the tax, produces the amount the commissioner determines is necessary to pay the expenses during the succeeding year of regulating nonprofit legal services corporations.

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.



Section  260.003.  Revenues Subject To Taxation.

A corporation shall pay maintenance taxes under this chapter on the correctly reported gross revenues received from issuing prepaid legal services contracts in this state.

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.



Section  260.004.  Maintenance Tax Due Dates; Rules.

(a) The corporation shall pay the maintenance tax annually or semiannually.

(b)  The comptroller may require semiannual payments only from a corporation whose maintenance tax liability under this chapter for the previous tax year was at least $2,000.

(c)  The comptroller may adopt reasonable rules to implement semiannual payments that the comptroller considers advisable.

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.



Section  260.005.  Applicability Of Other Law.

Sections 201.001 and 201.002 apply to taxes collected under this chapter.

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.


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