Bill Text: TX HB3422 | 2015-2016 | 84th Legislature | Introduced

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Bill Title: Relating to the computation of cost of goods for purposes of the franchise tax by certain taxable entities.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2015-03-17 - Referred to Ways & Means [HB3422 Detail]

Download: Texas-2015-HB3422-Introduced.html

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By: Thompson of Brazoria H.B. No. 3422

A BILL TO BE ENTITLED
AN ACT
relating to the computation of cost of goods for purposes of the
franchise tax by certain taxable entities.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 171.1011, Tax Code, is amended by adding
subsection (g-12) to read as follows:
(g-12) A taxable entity that is primarily engaged in the
resell of tickets to entertainment events shall exclude from its
total revenue, to the extent included under Subsection (c)(1)(A),
(c)(2)(A), or (c)(3), payments made to other persons for the
original purchase of a ticket being resold.
SECTION 2. This Act takes effect September 1, 2015.