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Texas Tax Code - TAX § 151.419. Application for Direct Payment Permits: Qualifications

Current as of January 01, 2024 | Updated by FindLaw Staff

(a) A person desiring a direct payment permit must file with the comptroller a written application for the permit.

(b) The application must be accompanied with:

(1) an agreement that is signed by the applicant or a responsible officer of an applicant corporation, that is in a form prescribed by the comptroller, and that provides that the applicant agrees to:

(A) accrue and pay all taxes imposed by Subchapter D of this chapter  1 on the storage and use of all taxable items sold to or leased or rented by the permit holder unless the items are exempted from the taxes imposed by this chapter;

(B) pay the imposed taxes monthly on or before the 20th day of the month following the end of each calendar month; and

(C) waive the discount permitted by Section 151.423 of this code on the payment of all taxes under the direct payment permit only;

(2) a description, in the amount of detail that the comptroller requires, of the accounting method by which the applicant proposes to differentiate between taxable and exempt transactions; and

(3) records establishing that the applicant is a responsible person who annually purchases taxable items that have a value when purchased of $800,000 or more excluding the value of taxable items for which resale certificates were or could have been given.

1 V.T.C.A., Tax Code § 151.101 et seq.
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Cite this article: FindLaw.com - Texas Tax Code - TAX § 151.419. Application for Direct Payment Permits: Qualifications - last updated January 01, 2024 | https://codes.findlaw.com/tx/tax-code/tax-sect-151-419/

Read this complete Texas Tax Code - TAX § 151.419. Application for Direct Payment Permits: Qualifications on Westlaw

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