Comptroller Issues Key Memo on Franchise Tax Conformity Changes Over the past few months, the Comptroller’s office has taken steps to move the franchise tax toward conformity with the Internal Revenue Code (IRC) in effect for the current tax year. On December 19, 2025, the agency released the attached internal memorandum, marking the final leap from static conformity to rolling…

New USPS Postmark Rule May Affect Tax Filing Deadlines The United States Postal Service (“Postal Service”) has adopted a new rule, Section 608.11, which adds “Postmarks and Postal Possession” to the Domestic Mail Manual. The definition of “postmark” provides that it may be placed on a mailpiece at a retail location (e.g., local postal office) or…

Comptroller Releases Final Memorandum on Cash Payment Rounding Procedures The Comptroller’s office has finalized and officially released the previously circulated draft memorandum outlining procedures for cash payments affected by the discontinuation of the penny. The memorandum has been posted to the Comptroller’s STAR system. See STAR Accession No. 202512001M. The posted memorandum is identical to the draft circulated…

Comptroller Announces Major Franchise Tax Policy Change – A Win for Taxpayers Acting Comptroller Kelly Hancock released a press statement today announcing a franchise tax policy change. Specifically, for franchise tax reports due on or after January 1, 2026, the agency will allow taxpayers to use the depreciation amounts reported on the current-year federal income…

Comptroller Publishes Proposed Changes to Rule 3.586 – Share feedback by Dec. 14 In October 2025, the Comptroller’s office circulated a draft of the agency’s proposed amendments to Rule 3.586 (relating to Margin: Nexus) and set a short deadline for submitting comments on the draft changes. TTARA did not receive any comments from the franchise…