Texas HB2137 proposes a temporary decrease in state sales and use taxes for certain sales made using blockchain technology.

HB2137 amends the Texas Tax Code to temporarily lower the sales and use tax rate to 5-1/4 percent for sales made using a decentralized network in the blockchain, provided the reduction in taxes does not exceed $400,000 for the calendar year. This change applies to sales made between January 1, 2026, and January 1, 2028. The comptroller must require permit holders to report daily the amount of taxes imposed until the annual limit is reached. The changes do not affect tax liability accruing before the effective date of the Act, which is September 1, 2025.

Texas HB2137 proposes a temporary decrease in state sales and use taxes for certain sales made using blockchain technology.

HB2137 amends the Texas Tax Code to temporarily lower the sales and use tax rate to 5-1/4 percent for sales made using a decentralized network in the blockchain, provided the reduction in taxes does not exceed $400,000 for the calendar year. This change applies to sales made between January 1, 2026, and January 1, 2028. The comptroller must require permit holders to report daily the amount of taxes imposed until the annual limit is reached. The changes do not affect tax liability accruing before the effective date of the Act, which is September 1, 2025.