Texas Comptroller of Public Accounts
| Legal Citations: |
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| Revenue Type: Cash — Personal Property |
| Origin Date: January 1, 1982 by H.B. 2356, 67th Leg., R.S. |
| Issue Date: |
| Revised Date: |
A retailer who sells taxable items on credit and charges interest on the amount of all sales taxes, and who remits sales tax and files tax reports on a cash basis accounting system, shall remit the greater of:
(1) one-half of the amount of interest on credit extended to the purchaser for the payment of the amount of all sales taxes imposed, or;
(2) the amount of interest on credit extended to the purchaser for the payment of the amount of all sales taxes imposed, less an amount of interest at a rate of 9% per year on credit extended for the payment of the sales tax.
At time sales tax is due.
| Appropriation Year | 26 |
|---|---|
| USAS Title | INTEREST ON RETAIL CREDIT SALE |
| Receipt Category | 02 – Personal Property |
| Receipt Type | 01 – Taxes |
| Object Group | 30 – Revenues |
| USAS Status | A |
| Rev/Exp Category | 06 – SALES TAXES |