Tex.
Tax Code Section 204.009
Penalties
(a)
Any person who makes or subscribes any application, report, or other document and submits it to the commission to form the basis for an application for a tax credit under this chapter knowing that the application, report, or other document is false or untrue in a material fact may be subject to the penalties imposed by Chapters 85 (Conservation of Oil and Gas) and 91 (Provisions Generally Applicable), Natural Resources Code.(b)
Upon notice from the commission that the certification for a new field discovery has been revoked, the tax credit may not be applied to oil or gas production sold after the date of notification. Any person who violates this subsection is liable to the state for a civil penalty if the person applies or attempts to apply the tax credit allowed by this chapter after the certification for new field discovery is revoked. The amount of the penalty may not exceed the sum of:(1)
$10,000; and(2)
the difference between the amount of taxes paid or attempted to be paid and the amount of taxes due.(c)
The attorney general may recover a penalty under Subsection (b) in a suit brought on behalf of the state. Venue for the suit is in Travis County.
Source:
Section 204.009 — Penalties, https://statutes.capitol.texas.gov/Docs/TX/htm/TX.204.htm#204.009 (accessed Jun. 5, 2024).
