Bill Text: TX SB1118 | 2015-2016 | 84th Legislature | Introduced
Bill Title: Relating to the cost of goods sold for purposes of the franchise tax for certain zoos and aquariums.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2015-03-16 - Referred to Finance [SB1118 Detail]
Download: Texas-2015-SB1118-Introduced.html
84R11513 BEF-F | ||
By: West | S.B. No. 1118 |
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relating to the cost of goods sold for purposes of the franchise tax | ||
for certain zoos and aquariums. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 171.1012, Tax Code, is amended by adding | ||
Subsection (u) to read as follows: | ||
(u) If a taxable entity accredited by the Association of | ||
Zoos and Aquariums elects to subtract cost of goods sold, the cost | ||
of goods sold for the taxable entity shall be the costs described by | ||
this section in relation to the acquisition, husbandry, production, | ||
exhibition, or conservation of animals. | ||
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, 2016. |