| Issue Date: | 1989-05-01 |
|---|---|
| Revised Date: | 2018-03-07 |
Legal Citations
- Tax Code sec. 151.423
- Attorney General Opinion No. JM-987
Object Type
Cash — Personal Property
Origin Date
1989
Description
A discount is offered to state agencies collecting sales and use tax and depositing the receipts into the state treasury on a timely basis. The discount is 1/2 of 1% of the total tax collected for:
- City sales tax
- State sales tax
- County sales tax
- Metropolitan transit authority tax
- City transit department tax
Due Date
Within three (3) days after collection.
Collecting Agencies
All agencies charging and collecting sales and use tax.
Deposit Funds
Note
This code is for the discount only. Separate codes have been established for the deposit of sales tax receipts. See Accounting Policy Statement No. 008 for sales tax codes. Title changes from Discount for Sales Tax -- State on September 1, 1996.
USAS Values
| Appropriation Year | 25 |
|---|---|
| USAS Title | DISCOUNT FOR SALES TAX-STATE AGYS & HE |
| Receipt Category | 02 – Personal Property |
| Receipt Type | 01 – Taxes |
| Object Group | 16 – Agency/Trust Transactions (Revenue Objects) |
| USAS Status | A |
| Rev/Exp Category | 06 – SALES TAXES |