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A BILL TO BE ENTITLED
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AN ACT
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relating to the exclusion by taxable entities engaged in providing |
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services as an agricultural aircraft operation of certain costs in |
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determining total revenue for purposes of the franchise tax. |
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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 (w-1) to read as follows: |
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(w-1) A taxable entity primarily engaged in the business of |
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providing services as an agricultural aircraft operation, as |
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defined by 14 C.F.R. Section 137.3, shall exclude from its total |
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revenue the cost of labor, equipment, fuel, and materials used in |
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providing those services. |
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SECTION 2. This Act applies only to a report originally due |
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on or after the effective date of this Act. |
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SECTION 3. This Act takes effect January 1, 2014. |