CHAPTER 260. NONPROFIT LEGAL SERVICES CORPORATIONS
INSURANCE CODE
TITLE 3. DEPARTMENT FUNDS, FEES, AND TAXES
SUBTITLE C. INSURANCE MAINTENANCE TAXES
CHAPTER 260. NONPROFIT LEGAL SERVICES CORPORATIONS
Sec. 260.001. MAINTENANCE TAX IMPOSED. A maintenance tax is
imposed on each nonprofit legal services corporation subject to
Chapter 961 with gross revenues subject to taxation under Section
260.003. The tax required by this chapter is in addition to other
taxes imposed that are not in conflict with this chapter.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1,
2005.
Sec. 260.002. MAXIMUM RATE; ANNUAL ADJUSTMENT. (a) The rate of
assessment set by the commissioner may not exceed one percent of
the corporation's gross revenues subject to taxation under
Section 260.003.
(b) The commissioner shall annually adjust the rate of
assessment of the maintenance tax so that the tax imposed that
year, together with any unexpended funds produced by the tax,
produces the amount the commissioner determines is necessary to
pay the expenses during the succeeding year of regulating
nonprofit legal services corporations.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1,
2005.
Sec. 260.003. REVENUES SUBJECT TO TAXATION. A corporation shall
pay maintenance taxes under this chapter on the correctly
reported gross revenues received from issuing prepaid legal
services contracts in this state.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1,
2005.
Sec. 260.004. MAINTENANCE TAX DUE DATES; RULES. (a) The
corporation shall pay the maintenance tax annually or
semiannually.
(b) The comptroller may require semiannual payments only from a
corporation whose maintenance tax liability under this chapter
for the previous tax year was at least $2,000.
(c) The comptroller may adopt reasonable rules to implement
semiannual payments that the comptroller considers advisable.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1,
2005.
Sec. 260.005. APPLICABILITY OF OTHER LAW. Sections 201.001 and
201.002 apply to taxes collected under this chapter.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1,
2005.