The Comptroller’s Office proposed the following rules for public comment through the February 18 Texas Register concerning tax administration. The comment period end date is March 20, 2022. A spotlight of the proposed changes can be found below:
The comptroller adds a new paragraph to include language concerning wages and cash compensation paid to employees in a foreign country. Compensation thresholds are included for years 2012 through 2024.
The amended section deletes subsections that are now invalid to the extent the disallowed deductions were allowed for federal purposes. Sections have been amended to reflect a policy change retroactively allowing the method of computing margin to be amended regardless of what method was elected on an original report. Additionally, the comptroller deleted paragraphs concerning the annual election.