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Texas Statutes (Last Updated: January 4, 2014) |
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TAX CODE |
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Title 3. LOCAL TAXATION |
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Subtitle C. LOCAL SALES AND USE TAXES |
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Chapter 322. SALES AND USE TAXES FOR SPECIAL PURPOSE TAXING AUTHORITIES |
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Subchapter B. ASSESSMENT AND COMPUTATION OF TAXES |
Sec. 322.103. COMPUTATION OF SALES TAXES
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(a) Each retailer in an entity area shall add the sales tax imposed under this chapter, the sales taxes imposed under Chapter 151, and, if applicable, any sales taxes imposed under Chapter 321 or 323 to the sales price, and the sum of the taxes is a part of the price, a debt of the purchaser to the retailer until paid, and recoverable at law in the same manner as the purchase price.
(b) The amount of the total tax is computed by multiplying the combined applicable tax rates by the amount of the sales price. If the product results in a fraction of a cent less than one-half of one cent, the fraction of a cent is not collected. If the fraction is one-half of one cent or more, the fraction shall be collected as one cent.
(c) The exclusion provided by Section 151.411 applies to a retailer under this chapter 50 percent of whose receipts from the sales of taxable items comes from individual transactions in which the sales price is an amount on which no tax is produced from the combined applicable tax rates.