89th Legislature, Regular Session
HB 1508
Relating to the repeal of the franchise tax.
Introduced
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- Passed House
- Passed Senate
- To Governor
- Became Law
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89R50 SRA-D By: Metcalf H.B. No. 1508 A BILL TO BE ENTITLED AN ACT relating to the repeal of the franchise tax. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Chapter 171, Tax Code, is repealed. SECTION 2. A taxable entity that is subject to the franchise tax imposed under Chapter 171, Tax Code, on December 31, 2025, is not required to file a franchise tax report or pay a tax on the taxable entity's taxable margin for the period ending on that date. SECTION 3. Chapter 171, Tax Code, as that chapter existed immediately before its repeal by this Act, and Subtitle B, Title 2,