Texas Proposal Requires Electric Tax Payments

A proposal filed in both the Texas House and Senate, would require a taxpayer who paid $10,000 or more during the preceding year in the category of payments described below to transfer payments in that category electronically. The requirement of TX SB 377 would apply only to:

  • state and local sales and use taxes
  • direct payment sales taxes
  • gas and oil severance taxes
  • franchise taxes
  • gasoline and diesel fuel taxes
  • hotel occupancy taxes
  • insurance premium taxes
  • mixed beverage gross receipts taxes
  • motor vehicle rental taxes
  • telecommunications infrastructure fund assessments.

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Upcoming CPE Webinars

Apr 24
In this session Excel expert David Ringstrom, CPA introduces you to a powerful but underutilized macro feature in Excel.
Apr 25
This material focuses on the principles of accounting for non-profit organizations' revenues. It will include discussions of revenue recognition for cash and non-cash contributions as well as other revenues commonly received by non-profit organizations.
Apr 30
During the second session of a four-part series on Individual Leadership, the focus will be on time management- a critical success factor for effective leadership. Each person has 24 hours of time to spend each day; the key is making wise investments and knowing what investments yield the greatest return.
May 1
This material focuses on the principles of accounting for non-profit organizations’ expenses. It will include discussions of functional expense categories, accounting for functional expenses and allocations of joint costs.