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Current as of January 01, 2024 | Updated by Findlaw Staff
The comptroller shall forfeit the corporate privileges of a corporation on which the franchise tax is imposed if the corporation:
(1) does not file, in accordance with this chapter and within 45 days after the date notice of forfeiture is mailed or provided by electronic means, a report required by this chapter;
(2) does not pay, within 45 days after the date notice of forfeiture is mailed or provided by electronic means, a tax imposed by this chapter or does not pay, within those 45 days, a penalty imposed by this chapter relating to that tax; or
(3) does not permit the comptroller to examine under Section 171.211 the corporation's records.
Cite this article: FindLaw.com - Texas Tax Code - TAX § 171.251. Forfeiture of Corporate Privileges - last updated January 01, 2024 | https://codes.findlaw.com/tx/tax-code/tax-sect-171-251/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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