| (a) Effective date. The additional tax imposed by the Tax Code, §171.0011, applies to a corporation which, after December 31, 1991, no longer has sufficient nexus with Texas to be subject to a tax based on earned surplus. All provisions of the Tax Code, Chapter 171, apply to the additional tax, unless they conflict with a provision in the Tax Code, §171.0011. (b) Due date. A final report and payment of the additional tax are due within 60 days after the corporation no longer has sufficient nexus with Texas to be subject to a tax based on earned surplus. However, an estimated return and payment may need to be filed and paid before a corporation will receive clearance from the comptroller to dissolve, merge, or withdraw. As long as the proper amount is paid and an amended return, if needed, is filed within 60 days after the corporation dissolves, merges, or withdraws, then no penalty or interest will be assessed. (c) Rate
and business based on. The additional tax is 4.5% of the net taxable earned surplus earned from the day after the last day for which the earned surplus component was based on a previous report through the date the corporation no longer has sufficient nexus with Texas to be subject to a tax based on earned surplus.
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