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Relating to disclosure by the comptroller to the purchaser of a business of the amount of tax due.
No fiscal implication to the State is anticipated.
Under current law, a person purchasing an existing business may request from the Comptroller a certificate stating that no tax is due. This helps the purchaser know whether there is an existing tax liability associated with the business they are purchasing. However, confidentiality laws may prohibit the Comptroller from making such a disclosure.
SB 873 would create an exemption to confidentiality laws in order to clearly allow the Comptroller to issue a no tax due statement to a person who appropriately requests one associated with an existing business they are purchasing.
Texas Action supports SB 873 which is consistent with our principles of limited government and individual liberty. This bill would allow for appropriate disclosure without infringing on the rights or liberty of anyone involved.
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