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A BILL TO BE ENTITLED
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AN ACT
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relating to the computation of costs of goods sold for purposes of |
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the franchise tax by certain taxable entities engaged in film or |
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motion picture exhibition. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 171.1012, Tax Code, is amended by adding |
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Subsection (r) to read as follows: |
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(r) If a taxable entity that is a movie theater elects to |
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subtract cost of goods sold, the cost of goods sold for the taxable |
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entity shall be the costs described by this section in relation to |
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the acquisition, production, exhibition, or use of a film or motion |
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picture, including expenses for the right to use the film or motion |
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picture. |
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SECTION 2. This Act is a clarification of existing law and |
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does not imply that existing law may be construed as inconsistent |
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with the law as amended by this Act. |
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SECTION 3. This Act takes effect September 1, 2013. |