HB 10, 30th 1st C.S.
Relating to prescribing franchise taxes to be paid by private, domestic and foreign corporations for the exercise of the privilege of doing business within the State of Texas, and providing for the collection thereof; fixing a basis for the computation of the amount of such taxes and providing for reports of officers of such corporations in connection therewith, and making it a misdemeanor to fail or refuse to make such report, and fixing a penalty therefor; providing for penalties for failure to make prompt payments of such taxes, providing for the forfeiture without judicial ascertainment of the right of such defaulting domestic or foreign corporation to do such business because of failure to pay such taxes and penalties within the time allowed by this Act for payment thereof.
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