A June 2012 policy statement issued by the Comptroller notified taxpayers of a change in policy regarding amending franchise tax reports to select a different deduction. Under prior law and policy, a taxpayer that filed a franchise tax report electing the cost of goods sold deduction could not amend the report to take the compensation deduction (and vice-versa). Under the new policy, taxpayers that filed a long-form franchise tax report electing one deduction or the other may now amend their report to take the opposite deduction or take no deduction. Taxpayers may also amend an E-Z report or No Tax Due report to a long form report electing a deduction.