83R7323 ADM-F
By: Button H.B. No. 1579
A BILL TO BE ENTITLED
AN ACT
relating to the inclusion of the costs of accepting credit and debit
cards in the cost of goods sold for purposes of computing the
franchise tax.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 171.1012, Tax Code, is amended by adding
Subsection (p) to read as follows:
(p) Notwithstanding Subsection (e)(2) or any other
provision of this section, the cost of goods sold includes the costs
attributable to the acceptance of credit cards and debit cards as a
means of payment.
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.