Sec. 204.061. CEILING AND FLOOR OF COMPENSATION FUND

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In computing the tax rates under this subchapter:
(1) the ceiling of the compensation fund is two percent of the total taxable wages for the four calendar quarters ending the preceding June 30; and
(2) the floor of the compensation fund is equal to the greater of:
(A) $400 million; or
(B) one percent of the total taxable wages for the four calendar quarters ending the preceding June 30.

Acts 1993, 73rd Leg., ch. 269, Sec. 1, eff. Sept. 1, 1993.

                    
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