Texas Tax Code 162.506 – Allocation of Compressed Natural Gas and Liquefied Natural Gas Tax
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Terms Used In Texas Tax Code 162.506
- Comptroller: means the Comptroller of Public Accounts of the State of Texas. See Texas Tax Code 1.04
- Month: means a calendar month. See Texas Government Code 312.011
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
On or before the fifth workday after the end of each month, the comptroller, after making deductions for refund purposes and for the administration and enforcement of this chapter, shall allocate the remainder of the taxes collected under Subchapter D-1 as follows:
(1) one-fourth of the taxes shall be deposited to the credit of the available school fund; and
(2) three-fourths of the taxes shall be deposited to the credit of the state highway fund.