Texas: Collecting and Remitting Tax on Credit Ratings of Legal Entities Now Begins as of July 1

The Texas Comptroller of Public Accounts reiterates that the provision of credit ratings services for legal entities is taxable under Texas law and the provision of credit ratings services for debt obligations is not, but now explains that impacted taxpayers must start collecting and remitting Texas sales and use tax on their taxable credit rating services beginning July 1, 2023.

Source Deloitte

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