Ceiling and Floor of Compensation Fund

Sec. 204.061. CEILING AND FLOOR OF COMPENSATION FUND. In computing the tax rates under this subchapter: (1) the ceiling of the compensation fund is two percent of the total taxable wages for the four calendar quarters ending the preceding June 30; and (2) the floor of the compensation fund is equal to the greater of: (A) $400 million; or (B) one percent of the total taxable wages for the four calendar quarters ending the preceding June 30. Acts 1993, 73rd Leg., ch. 269, Sec. 1, eff. Sept. 1, 1993.