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