Public Official Bonds in Texas
New income tax on income in excess of $150,000 will be imposed through this bill. The Department of Revenue has the authority to designate agents or outside counsel that is outside the state for the purpose of collecting this tax from non-residents. Bonds or other securities may be required to ensure the faithful performance of their collection duties. Taxpayers may be required to post a bond or other security if an extension is granted to pay the tax.
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