Bill Text: TX HB84 | 2015-2016 | 84th Legislature | Introduced
Bill Title: Relating to the exclusion of certain funds in determining total revenue for purposes of the franchise tax by taxable entities engaged in the business of harvesting trees for wood.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2015-04-14 - No action taken in committee [HB84 Detail]
Download: Texas-2015-HB84-Introduced.html
| 84R944 KLA-D | ||
| By: White of Tyler | H.B. No. 84 | |
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| relating to the exclusion of certain funds in determining total | ||
| revenue for purposes of the franchise tax by taxable entities | ||
| engaged in the business of harvesting trees for wood. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Section 171.1011, Tax Code, is amended by adding | ||
| Subsection (g-9) to read as follows: | ||
| (g-9) A taxable entity that is primarily engaged in the | ||
| business of harvesting trees for wood shall exclude from its total | ||
| revenue, to the extent included under Subsection (c)(1)(A), | ||
| (c)(2)(A), or (c)(3), payments made by the taxable entity to a | ||
| person who owns or controls the land from which the trees are | ||
| harvested, provided that person is not the taxable entity. | ||
| SECTION 2. 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, 2016. | ||
