Tex. Finance Code § 122.106
This is the official text of Tex. Finance Code § 122.106, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 122.106. EXEMPTION FROM CERTAIN TAXES.
Official statutory text
(a) Except as provided by Subsection (b), a credit union is exempt from a franchise or other license tax.
(b) A credit union is not exempt from the franchise tax imposed by Chapter 171, Tax Code, unless the credit union is exempted by that chapter.
(c) The intangible property of a credit union organized under this chapter is not taxable.
(b) A credit union is not exempt from the franchise tax imposed by Chapter 171, Tax Code, unless the credit union is exempted by that chapter.
(c) The intangible property of a credit union organized under this chapter is not taxable.
Status: in_force · Read it on the official government site
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