Texas HB4180 imposes a 25% tax on money transmissions from Texas to foreign countries facilitated by licensees.

HB4180 amends the Texas Tax Code to impose a tax on money transmissions from Texas to foreign countries, facilitated by money transmission licensees. The tax rate is set at 25% of the transmission amount, which licensees must add to the price charged to the sender. The tax is collected and remitted monthly, with records kept by licensees and reports filed with the comptroller. Proceeds from the tax are deposited into the state's general revenue fund. The act takes effect September 1, 2025.

Texas HB4180 imposes a 25% tax on money transmissions from Texas to foreign countries facilitated by licensees.

HB4180 amends the Texas Tax Code to impose a tax on money transmissions from Texas to foreign countries, facilitated by money transmission licensees. The tax rate is set at 25% of the transmission amount, which licensees must add to the price charged to the sender. The tax is collected and remitted monthly, with records kept by licensees and reports filed with the comptroller. Proceeds from the tax are deposited into the state's general revenue fund. The act takes effect September 1, 2025.