Texas Tax Code 154.050 – Payment
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(a) The comptroller shall require that payment in full for stamps be made within 30 days after the date stamps and an accompanying invoice from the comptroller are received by the distributor, except that at the close of each biennium, payment for stamps purchased or received on or before August 31 of that fiscal year shall be made in full on or before August 31 of that fiscal year, providing that such payment be received in the office of the comptroller no later than August 31 of that fiscal year notwithstanding any other statute regarding tax due dates to the contrary.
(b) The comptroller may not ship stamps without advance payment under this section unless the distributor has satisfied all requirements imposed under § 154.051.
Terms Used In Texas Tax Code 154.050
- Comptroller: means the Comptroller of Public Accounts of the State of Texas. See Texas Tax Code 1.04
- Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Statute: A law passed by a legislature.
- Year: means 12 consecutive months. See Texas Government Code 311.005
(c) Payment for stamps must be made by cashier’s check payable to the comptroller, electronic funds transfer to the comptroller, or any other method of payment authorized by the comptroller.
(d) The dishonor of a check delivered to the comptroller for payment of stamps constitutes a failure to pay the tax when due.