Bill Text: TX HB4198 | 2019-2020 | 86th Legislature | Introduced
Bill Title: Relating to the exclusion from total revenue of certain payments made by a performing rights society for purposes of computing the franchise tax.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2019-04-17 - Committee report sent to Calendars [HB4198 Detail]
Download: Texas-2019-HB4198-Introduced.html
86R15246 CJC-F | ||
By: Murphy | H.B. No. 4198 |
|
||
|
||
relating to the exclusion from total revenue of certain payments | ||
made by a performing rights society for purposes of computing the | ||
franchise tax. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 171.1011, Tax Code, is amended by adding | ||
Subsection (g-12) to read as follows: | ||
(g-12) A taxable entity that is a performing rights society | ||
that licenses the public performance of nondramatic musical works | ||
on behalf of a copyright owner shall exclude from its total revenue, | ||
to the extent included under Subsection (c)(1)(A), (c)(2)(A), or | ||
(c)(3), payments made to the public performance rights holder and | ||
copyright owner for whom the taxable entity licenses the public | ||
performance. | ||
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, 2020. |