Bill Text: TX SB392 | 2011-2012 | 82nd Legislature | Introduced

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Bill Title: Relating to the classification of certain entities as primarily engaged in retail trade for purposes of the franchise tax.

Sponsorship: Partisan Bill (Republican 1)

Status: (Introduced - Dead) 2011-02-02 - Referred to Finance [SB392 Detail]

Download: Texas-2011-SB392-Introduced.html

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82R3169 KLA-D
By: Patrick S.B. No. 392

A BILL TO BE ENTITLED
AN ACT
relating to the classification of certain entities as primarily
engaged in retail trade for purposes of the franchise tax.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 171.0001(12), Tax Code, is amended to
read as follows:
(12) "Retail trade" means:
(A) the activities described in Division G of the
1987 Standard Industrial Classification Manual published by the
federal Office of Management and Budget; and
(B) apparel rental activities classified as
Industry 5999 or 7299 of the 1987 Standard Industrial
Classification Manual published by the federal Office of Management
and Budget.
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, 2012.