| (C) Before the comptroller will reinstate a registration
number, the former registrant must remit any Texas sales and use taxes,
as well as applicable penalties and interest from the date of purchase,
on all purchases made tax-free under this section during periods when
the registrant was not eligible for the exemption under this section.
(8) Cancellation of registration number by registrant.
A registrant who has received a registration number and subsequently
chooses to claim the franchise tax research and development activities
credit must cancel the registration number. The registrant is responsible
for remitting Texas sales and use tax, and penalty and interest from
the date of purchase, on any items purchased tax-free under this section
during any accounting periods covered by a franchise tax report on
which the credit is claimed.
(d) Texas Qualified Research Sales and Use Tax Exemption
Certificate. Beginning January 1, 2014, a retailer may accept a valid
and complete Form 01-931, Texas Qualified Research Sales and Use Tax
Exemption Certificate or any form promulgated by the comptroller or
that succeeds such form, in lieu of Texas sales and use tax on the
sale of depreciable tangible personal property that qualifies for
exemption under subsection (b) of this section. To be valid and complete,
a Texas Qualified Research Sales and Use Tax Exemption Certificate
must bear the registration number issued to the registrant by the
comptroller and must be signed by the registrant or the registrant's
authorized agent. Texas Qualified Research Sales and Use Tax Exemption
Certificates are subject to the requirements of §3.287(d) of
this title. A retailer must maintain a copy of the Texas Qualified
Research Sales and Use Tax Exemption Certificate accepted in lieu
of tax on a sale and all records supporting that transaction. Refer
to §3.281 of this title (relating to Records Required; Information
Required).
(e) Divergent use. When a registrant uses an item purchased
under a valid Texas Qualified Research Sale and Use Tax Exemption
Certificate in a taxable manner, the registrant is liable for payment
of Texas sales and use tax, plus penalty and interest as applicable,
based on the fair market rental value of the tangible personal property
for the period of time used in the taxable manner. Refer to Tax Code, §151.155
(Exemption Certificate).
(f) Refund of Texas sales and use tax paid on depreciable
tangible personal property used in qualified research. A registrant
with a valid registration number may file a claim for refund of Texas
sales and use tax paid on purchases made on or after the later of
January 1, 2014, or the effective date of the registration number,
that qualify for exemption under subsection (b) of this section in
accordance with the requirements of §3.325 of this title.
(g) Expiration. The sales and use tax exemption for
depreciable tangible personal property used in qualified research
expires on December 31, 2026.
|
