Bill Text: TX HB423 | 2017-2018 | 85th Legislature | Engrossed

Texas House Bill 423 (Prior Session Legislation)

Bill Title: Relating to the computation of cost of goods sold for purposes of the franchise tax by taxable entities that transport ready-mixed concrete.

Sponsorship: Partisan Bill (Republican 2)

Status: (Engrossed - Dead) 2017-05-19 - Left pending in committee [HB423 Detail]

Download: Texas-2017-HB423-Engrossed.html

	85R17800 TJB-D

	By: Wray	H.B. No. 423



	A BILL TO BE ENTITLED
	AN ACT
	relating to the computation of cost of goods sold for purposes of
	the franchise tax by taxable entities that transport ready-mixed
	concrete.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
	SECTION 1. Section 171.1012, Tax Code, is amended by adding
	Subsection (r) to read as follows:
	(r) Notwithstanding Subsection (e)(3) or (6), a taxable
	entity that transports ready-mixed concrete may subtract as cost of
	goods sold distribution and rehandling costs regardless of whether
	the taxable entity owns the ready-mixed concrete.
	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.