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Texas Tax Code - TAX § 24.34. Interstate Allocation

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

(a) If the railroad operates in another state or country, the chief appraiser shall allocate to this state the proportion of the total market value of the rolling stock that fairly reflects its use in this state during the preceding tax year.

(b) The comptroller shall adopt rules establishing formulas for interstate allocation of the value of railroad rolling stock.

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Cite this article: FindLaw.com - Texas Tax Code - TAX § 24.34. Interstate Allocation - last updated January 01, 2024 | https://codes.findlaw.com/tx/tax-code/tax-sect-24-34/

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