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Texas Comptroller Delays Implementation of New Policy Regarding the Taxability of Medical Billing Services Until After 2021 Legislative Session.
Last week, the Texas Comptroller issued an important memo regarding the taxation of medical billing services. The memo is dated March 19, 2020 and follows up on a prior memo dated November 19, 2019, which had previously announced the reversal of a long-standing Comptroller policy treating medical billing services as nontaxable. The change in policy was slated to take effect April 1, 2020.
In the March 19, 2020 memo, however, the Comptroller states that implementation of the new policy will be delayed until after the 2021 legislative session. The reason for the delayed implementation, according to the March 19, 2020 memo, is to allow industry time to seek a legislative change. The memo goes on to state that the new policy will go into effect on October 1, 2021 if a legislative change is not enacted. The March 19, 2020 memo can be accessed here.
Beaird Harris has been ranked as one of Financial Advisor Magazine’s 2024 America’s Top RIAs!
In times of high inflation, managing lifestyle creep is crucial to maintaining financial stability and achieving long-term financial goals.
Whether you’ve been investing for decades or are just getting started, at some point you’ll likely ask yourself some fundamental questions. The 10 listed here…
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