Bill Text: TX SB161 | 2013-2014 | 83rd Legislature | Introduced
Bill Title: Relating to the computation of the franchise tax by certain taxable entities that rent or lease equipment.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2013-02-13 - Referred to s/c on Fiscal Matters by Chair [SB161 Detail]
Download: Texas-2013-SB161-Introduced.html
| 83R1755 KLA-F | ||
| By: Patrick | S.B. No. 161 | |
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| relating to the computation of the franchise tax by certain taxable | ||
| entities that rent or lease equipment. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Section 171.002, Tax Code, is amended by adding | ||
| Subsection (c-2) to read as follows: | ||
| (c-2) Subsection (c)(2) does not apply to total revenue from | ||
| activities in a trade that rents or leases tangible personal | ||
| property as described by Industry Group 735 of the Standard | ||
| Industrial Classification Manual published by the United States | ||
| Department of Labor. | ||
| 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, 2014. | ||
