Bill Text: TX HB4002 | 2017-2018 | 85th Legislature | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to the definition of production used in determining the cost of goods sold for franchise tax purposes.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2017-06-01 - Effective on 9/1/17 [HB4002 Detail]
Download: Texas-2017-HB4002-Introduced.html
Bill Title: Relating to the definition of production used in determining the cost of goods sold for franchise tax purposes.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2017-06-01 - Effective on 9/1/17 [HB4002 Detail]
Download: Texas-2017-HB4002-Introduced.html
By: Bonnen of Brazoria | H.B. No. 4002 |
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relating to the definition of "production" in the cost of goods sold | ||
deduction for the franchise tax. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 171.1012(a)(2), Tax Code, is amended to | ||
read as follows: | ||
(2) "Production" means [ |
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improvement, creation, raising, or growth. | ||
SECTION 2. This Act is a clarification of existing law and | ||
does not imply that existing law may be construed as inconsistent | ||
with the law as amended by this Act. | ||
SECTION 3. This Act takes effect September 1, 2017. |