Personal Property And Securities Act In Houston
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Ing to the Comptroller, there is no provision for the cessation of property taxes at any stage. However, there is a Texas property tax exemption for people over the age of 65, which offers temporary tax relief for seniors. At the age of 65, seniors can apply for an exemption from Texas property taxes.
Fill in the business start date, sales tax permit number, and check any boxes that apply. If sold, please fill in the New Owners name. If moved, please fill in the new location address. Please check the box with the value that describes the property owned and used by the business.
(1) An entity that believes it is exempt from franchise tax must furnish to the comptroller sufficient evidence to establish its exempt status. The entity claiming the exemption bears the burden to establish its entitlement to exempt status and any doubts will result in a denial of the application for exemption.
You must own your home. To qualify for a general or disabled homestead exemption you must own your home on January 1. If you are 65 years of age or older you need not own your home on January 1. You will qualify for the over 65 exemption as soon as you turn 65, own the home and live in it as your principal residence.
A person is entitled to an exemption from taxation of the tangible personal property that is held or used for the production of income if it has less than $2,500 of taxable value (Tax Code Section 11.145).
Blue Sky Laws are state securities regulations designed to protect investors from fraud. These laws require securities offerings to be registered with the state unless they qualify for an exemption.
Section 5. I(a) of the Act exempts sales by an issuer made without public solicitation or advertisements so long as the total number of security holders, regardless of where they live, does not exceed 35.
Exceptions to Section 5 The SEC exempts some offerings from Section 5, i.e. some offerings do not require the filing of a registration statement. From a policy standpoint, the SEC recognizes that some investors are financially sophisticated enough to fend for themselves and do not require the protections of Section 5.
Section 5(a) and (c) of the Securities Act make it unlawful to offer or sell a security in interstate commerce unless a registration statement has been filed or the transaction qualifies for an exemption from registration.
The Securities Act effectuates disclosure through a mandatory registration process in any sale of any securities. In reality, due to a number of exemptions (for trading on the secondary market and small offerings), the Act is mainly applied to primary market offerings by issuers.