Section 151.703 - Failure to Report or Pay Tax(a) A person who fails to file a report as required by this chapter or who fails to pay a tax imposed by this chapter when due forfeits five percent of the amount due as a penalty, and if the person fails to file the report or pay the tax within 30 days after the day on which the tax or report is due, the person forfeits an additional five percent.(b) The minimum penalty provided by Subsection (a) of this section is $1.(c) A delinquent tax draws interest beginning 60 days from the due date.(d) In addition to any other penalty authorized by this section, a person who fails to file a report as required by this chapter shall pay a penalty of $50. The penalty provided by this subsection is assessed without regard to whether the taxpayer subsequently files the report or whether any taxes were due from the taxpayer for the reporting period under the required report.Amended by: Acts 2011, 82nd Leg., 1st C.S., Ch. 4 (S.B. 1), Sec. 14.03, eff. October 1, 2011 Acts 1981, 67th Leg., p. 1583, ch. 389, Sec. 1, eff. Jan. 1, 1982.