| (1) A taxable entity applies for the credit by claiming
the credit on or with the franchise tax report for the period for
which the credit is claimed. A taxable entity must also complete Form
05-178, Texas Franchise Tax Research and Development Activities Credits
Schedule, its electronic equivalent, or any form promulgated by the
comptroller that succeeds such form.
(2) The comptroller may require a taxable entity that
claims a credit under this section to provide all data and information
required for the comptroller to evaluate the credit and to comply
with Tax Code, §151.3182(c).
(o) Amending reports.
(1) If a report was originally due and filed after
the effective date of this section and a credit allowed under this
section was not claimed, a taxable entity may file an amended report
within the statute of limitation to claim a credit, if the taxable
entity or a member of its combined group does not have an active Registration
Number for that period. See §3.584 of this title for information
about filing an amended report.
(2) If a taxable entity or member of the combined group
has or had a Registration Number for a period for which it intends
to claim a credit allowed under this section, the taxable entity or
member of the combined group must submit a written request to cancel
the registration before claiming a credit. The written request must
contain the following information:
(A) the tax period(s) covered by the report for which
it intends to claim a credit allowed under this section; and
(B) a statement whether any tax-exempt purchases were
made. If tax-exempt purchases were made, include an original or amended
sales and use tax report with tax due, penalty, and interest for the
sales tax periods that cover the tax-exempt purchases.
(3) If a report was filed claiming a credit allowed
under this section and the taxable entity later decides to claim a
sales and use tax exemption under Tax Code, §151.3182, the taxable
entity must:
(A) file an amended franchise tax report that does
not claim the credit under this section and pay any tax, penalty,
and interest due;
(B) apply for a Registration Number; and
(C) file a request for a sales and use tax refund for
taxes paid on purchases under Tax Code, §151.3182.
|
| Source Note: The provisions of this §3.599 adopted to be effective April 5, 2015, 40 TexReg 1858; amended to be effective October 24, 2021, 46 TexReg 7060; amended to be effective August 4, 2022, 47 TexReg 4557 |
