Texas Tax Code 162.364 – Duties of Persons Holding Tax Payments
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(a) A person who receives or collects tax under this subchapter holds the amount received or collected in trust for the benefit of this state and has a fiduciary duty to remit to the comptroller the amount of tax received or collected.
(b) A dealer who receives a payment of tax under this subchapter may not apply the payment of tax to a debt that the person making the payment owes for compressed natural gas or liquefied natural gas purchased from the dealer.
Terms Used In Texas Tax Code 162.364
- Comptroller: means the Comptroller of Public Accounts of the State of Texas. See Texas Tax Code 1.04
- Fiduciary: A trustee, executor, or administrator.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
(c) A person required to receive or collect a tax under this subchapter is liable for and shall pay the tax in the manner provided by this subchapter.