Bill Text: TX HB2961 | 2017-2018 | 85th Legislature | Introduced
Bill Title: Relating to the exclusion of certain payments from total revenue for purposes of the franchise tax.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2017-03-22 - Referred to Ways & Means [HB2961 Detail]
Download: Texas-2017-HB2961-Introduced.html
85R13003 GRM-F | ||
By: Anderson of Dallas | H.B. No. 2961 |
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relating to the exclusion of certain payments from total revenue | ||
for purposes of the franchise tax. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 171.1011, Tax Code, is amended by adding | ||
Subsection (y) to read as follows: | ||
(y) A taxable entity that is primarily engaged in the | ||
business of information technology staffing shall exclude from its | ||
total revenue, to the extent included under Subsection (c)(1)(A), | ||
(c)(2)(A), or (c)(3), subcontracting payments made under a contract | ||
or subcontract entered into by the taxable entity to provide | ||
services, labor, or materials in connection with the actual or | ||
proposed design of software or the provision of information | ||
technology services. | ||
SECTION 2. Section 171.1011(y), Tax Code, as added by this | ||
Act, applies only to a report originally due on or after the | ||
effective date of this Act. | ||
SECTION 3. This Act takes effect January 1, 2018. |