Installment Tax Payments on Certain Business Property
Located in Disaster Areas
[Tax Code §31.032(h)]
Pursuant to Tax Code §31.032(h), for the 2009 tax year, the limit on gross receipts under Tax Code §31.032(a)(1)(A)(ii) is $5 million. For each subsequent tax year, the comptroller shall adjust the limit to reflect inflation by using the index that the comptroller considers to most accurately report changes in the purchasing power of the dollar for consumers in this state and shall publicize the adjusted limit. Each collector shall use the adjusted limit as calculated by the comptroller under this subsection to determine whether property is owned or leased by a business entity described by Tax Code §31.032(a)(1)(A)(ii).