Duncan Estates, one of the companies that had applied for the rezoning of the 37 acres near Tower Hill Lane approved by the Killeen City Council last Tuesday, is listed by the Texas Comptroller as having been forfeited in its right to transact business in the state of Texas.
According to the state Comptroller’s website, the Comptroller is required to forfeit a business’ ability to transact business in Texas: “ if the company has not met franchise tax filing requirements under Chapter 171. The law also requires the Comptroller to give at least 45 days, beginning after the notice of pending forfeiture is mailed, before the actual forfeiture. Any franchise tax deficiencies must be cured during that period to avoid the forfeiture of the right to transact business in Texas. If the corporate privileges are forfeited, the entity will be denied the right to sue or defend itself in a Texas court and each director or officer will be liable for the debt of the entity. “
Vikram Pasham, who is listed as a director of Duncan Estates, said Monday that he does know what that means.
“I know we have tax extensions,” he said. ”Property taxes are all paid.”
Pasham said he would look into it further.
City Manager Kent Cagle said he doubts it would be an issue at this point.
“At this point it doesn’t have anything to do with the zoning. It doesn’t change anything that happened,” Cagle said.
He said he believes it could have something to do with paperwork not being updated or something related to fees.
“Every so often you have to let the state know,” Cagle said, about filing paperwork.
Bell County Commissioner Louie Minor said all the person who owns Duncan Estates needs to do is file a franchise report with the Comptroller’s Office.
He said it’s “pretty simple” but also explained that “technically they’re not allowed to transact business in the state.”
But he said he didn’t think it was a very big deal and said it happens more often than people think.
Belton Engineering had applied for the rezoning of 37 acres on Tower Hill Lane from agricultural to single-family residential on behalf of Duncan Estates at last Tuesday’s meeting. The measure passed unanimously.
Rezoning issues have been a hot-button issue at the City Council, with the city’s rapid development often criticized by residents.