Tex. Tax Code § 151.427 · Subchapter I. REPORTS, PAYMENTS, AND METHODS OF REPORTING
DEDUCTION FOR PROPERTY ON WHICH THE TAX IS PAID AND HELD FOR RESALE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A seller who has paid the tax imposed by this chapter on the sales price of tangible personal property acquired for storage or use may deduct the amount of the tax paid if the seller resells, leases, or rents the item to another in the regular course of business before the seller has made any use of the property other than retaining, displaying, or demonstrating it while holding it for sale in the regular course of business.
(b) If a deduction is taken under Subsection (a) of this section, the person who sold the property to the seller may not receive a credit or refund with respect to the sale of the property to the seller.
(c) The deduction allowed by Subsection (a) of this section must be taken in accordance with any rule on the deduction made by the comptroller.
Notes and commentary — not statutory text
History
Acts 1981, 67th Leg., p. 1576, ch. 389, Sec. 1, eff. Jan. 1, 1982.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/TX/htm/TX.151.htm
- Text hash
- sha256 1a49509ac4922ddddc108fb4fd2a16fbd9c1747931f57ce740d6fab0c7c3187e
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.