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Terms Used In Texas Insurance Code 226.055

  • Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.

The amount of tax due and payable under this subchapter by a corporation that files a franchise tax report shall be reported directly to the comptroller and is due:
(1) at the time the franchise tax report is due; or
(2) on another date prescribed by the comptroller.