Texas Comptroller Proposes Regulation on Delinquent Revenue, Gross sales, Excise Taxpayers’ Monetary Data, Data Trade

June 24, 2022, 5:00 AM

The Texas Comptroller of Public Accounts June 24 proposed a regulation on the exchange of delinquent taxpayers’ financial records and information, for corporate income, sales and use, and excise tax purposes. The proposal includes measures to: 1] define important terms, such as “delinquent taxpayer,” “data match,” and “financial institution;” 2] provide that a financial institution doing business in the state must exchange information with the comptroller or the comptroller’s agent in each calendar quarter; 3] prevent the comptroller and the comptroller’s agent from asking a financial institution to exchange information more than once in each calendar quarter; 4] limit the …

© 2022 The Bureau of National Affairs, Inc.

All Rights Reserved