Bill Text: TX HB3388 | 2013-2014 | 83rd Legislature | Comm Sub
Bill Title: Relating to the computation of costs of goods sold for purposes of the franchise tax by certain taxable entities engaged in film or motion picture exhibition.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2013-05-07 - Committee report sent to Calendars [HB3388 Detail]
Download: Texas-2013-HB3388-Comm_Sub.html
83R23383 ADM-F | |||
By: Hilderbran | H.B. No. 3388 | ||
Substitute the following for H.B. No. 3388: | |||
By: Hilderbran | C.S.H.B. No. 3388 |
|
||
|
||
relating to the computation of costs of goods sold for purposes of | ||
the franchise tax by certain taxable entities engaged in film or | ||
motion picture exhibition. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 171.1012, Tax Code, is amended by adding | ||
Subsection (r) to read as follows: | ||
(r) If a taxable entity that is a movie theater elects to | ||
subtract cost of goods sold, the cost of goods sold for the taxable | ||
entity shall be the costs described by this section in relation to | ||
the acquisition, production, exhibition, or use of a film or motion | ||
picture, including expenses for the right to use the film or motion | ||
picture. | ||
SECTION 2. This Act is a clarification of existing law and | ||
does not imply that existing law may be construed as inconsistent | ||
with the law as amended by this Act. | ||
SECTION 3. This Act takes effect September 1, 2013. |