| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | By: Brown of Kaufman H.B. No. 1613 | |
| 2 | 2 | ||
| 3 | 3 | ||
| 4 | 4 | A BILL TO BE ENTITLED | |
| 5 | 5 | AN ACT | |
| 6 | 6 | relating to the computation of taxable margin for purposes of the | |
| 7 | 7 | franchise tax by certain taxable entities. | |
| 8 | 8 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 9 | 9 | SECTION 1. Section 171.1013, Tax Code, is amended by adding | |
| 10 | 10 | Subsection (i) to read as follows: | |
| 11 | 11 | (i) Subject to Section 171.1014 and the limitation in | |
| 12 | 12 | Subsection (c), a taxable entity that elects to subtract | |
| 13 | 13 | compensation for the purpose of computing its taxable margin under | |
| 14 | 14 | Section 171.101 may include as wages and cash compensation any | |
| 15 | 15 | compensation paid to an independent contractor as reported on | |
| 16 | 16 | Internal Revenue Service Form 1099, or any subsequent form with a | |
| 17 | 17 | different number or designation that substantially provides the | |
| 18 | 18 | same information. | |
| 19 | 19 | SECTION 2. This Act applies only to a report originally due | |
| 20 | 20 | on or after the effective date of this Act. | |
| 21 | 21 | SECTION 3. This Act takes effect January 1, 2010. |