The Texas Comptroller of Public Accounts has issued a policy letter stating that the provision of credit rating services for legal entities is subject to sales and use tax, and taxpayers must begin collecting and remitting tax on these services beginning July 1, 2023. Collection and remittance of tax on such services was previously scheduled to apply effective April 1, 2023. Any charges to develop or update a credit rating, including any administrative, maintenance, and cancellation fees, are part of the taxable sales price of the credit rating service.
Source: salestaxinstitute.com
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