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(d-1) A taxable entity, other than a combined group, may not claim the credit under this section unless the taxable entity was, on May 1, 2006, subject to the tax imposed by this chapter as this chapter existed on that date.
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When is a taxable entity not taxable under section 171.0011?
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A taxable entity shall exclude from its total revenue, to the extent included under Subsection (c) (1) (A), (c) (2) (A), or (c) (3), the tax basis as determined under the Internal Revenue Code of securities and loans sold.
Jan 1, 1992 · Tax Code Section 171.0011. Additional Tax. (a) Except as provided by Section 171.001 (Tax Imposed) (c), an additional tax is imposed on a taxable entity that for any reason becomes no longer subject to the tax imposed under this chapter. (b)
Sec. 171.0011. ADDITIONAL TAX. (a) Except as provided by Section 171.001(c), an additional tax is imposed on a taxable entity that for any reason becomes no longer subject to the tax imposed under this chapter.
(d-1) A taxable entity, other than a combined group, may not claim the credit under this section unless the taxable entity was, on May 1, 2006, subject to the tax imposed by this chapter as this chapter existed on that date.
Section 171.0011 - Additional Tax (a) Except as provided by Section 171.001(c), an additional tax is imposed on a taxable entity that for any reason becomes no longer subject to the tax imposed under this chapter.
(c) The tax imposed under this section or Section 171.0011 is not imposed on an entity if, during the period on which the report is based, the entity qualifies as a passive entity as defined by Section 171.0003.
