CHAPTER 260. NONPROFIT LEGAL SERVICES CORPORATIONS - Texas Statutes

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.