Texas Local Government Code 505.301 – Delivery of Tax Proceeds
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Terms Used In Texas Local Government Code 505.301
- Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Municipality: means a general-law municipality, home-rule municipality, or special-law municipality. See Texas Local Government Code 1.005
On the authorizing municipality‘s receipt from the comptroller of the proceeds of the sales and use tax imposed under this chapter, the authorizing municipality shall deliver the proceeds to the Type B corporation.