Texas Comptroller Issues Franchise Tax Guidance on Limitations Period for Extensions, Refund Requests

The Texas Comptroller of Public Accounts issued a memo providing guidance on determining the statute of limitations when a taxpayer requests an extension for the franchise tax reporting period. The memo applies to determining the applicable period of limitation for the comptroller to assess tax and for a taxable entity to file a refund claim. The memo does not apply to calculating penalty and interest. [Tex. Comptroller of Pub. Accts., Franchise Tax Extensions and the Statute of Limitation, Accession No. 202404001L, 04/12/24]

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