Sec. 111.102. SETTLEMENT ON REDETERMINATION. As a part of a redetermination order, the comptroller may settle a claim for a tax, penalty, or interest imposed by this title if:
(1) collection of the total amount due would make the taxpayer insolvent and the taxpayer has submitted to the comptroller all financial records, including income tax reports and an inventory of all property owned wherever located; or
(2) the taxpayer is insolvent, is in liquidation, or has ceased to do business and:
(A) the taxpayer has no property that may be seized by the courts of this or another state; or
(B) the value of the taxpayer's property is less than the total amount due and the amount of debts against the property.
Acts 1981, 67th Leg., p. 1506, ch. 389, Sec. 1, eff. Jan. 1, 1982. Amended by Acts 1999, 76th Leg., ch. 459, Sec. 4, eff. Aug. 30, 1999.
Structure Texas Statutes
Subtitle B - Enforcement and Collection
Chapter 111 - Collection Procedures
Subchapter C. Settlements, Refunds, and Credits
Section 111.102. Settlement on Redetermination
Section 111.103. Settlement of Penalty and Interest Only
Section 111.1042. Tax Refund: Informal Review
Section 111.105. Tax Refund: Hearing
Section 111.106. Tax Refund: Notice of Intent to Bypass Hearing
Section 111.107. When Refund or Credit Is Permitted
Section 111.108. Recovery of Refund or Credit
Section 111.110. Tax Credit for Real Property Contributed to an Institution of Higher Education