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Texas Tax Code - TAX § 171.805. Amount of Credit;  Limitation on Total Credits

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

<Text of section effective June 1, 2026;  section expires effective Jan. 1, 2029, pursuant to V.T.C.A., Tax Code § 171.812. >

(a) Subject to Subsection (b), the amount of a taxable entity's credit for a report is equal to the lesser of:

(1) the amount of credit awarded to the entity under Section 171.807;  or

(2) the amount of franchise tax due for the report after applying all other applicable credits.

(b) The total amount of strong families credits awarded may not exceed $5 million each year.

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Cite this article: FindLaw.com - Texas Tax Code - TAX § 171.805. Amount of Credit;  Limitation on Total Credits - last updated January 01, 2024 | https://codes.findlaw.com/tx/tax-code/tax-sect-171-805/

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