| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 83R23383 ADM-F | |
| 2 | 2 | By: Hilderbran H.B. No. 3388 | |
| 3 | 3 | Substitute the following for H.B. No. 3388: | |
| 4 | 4 | By: Hilderbran C.S.H.B. No. 3388 | |
| 5 | 5 | ||
| 6 | 6 | ||
| 7 | 7 | A BILL TO BE ENTITLED | |
| 8 | 8 | AN ACT | |
| 9 | 9 | relating to the computation of costs of goods sold for purposes of | |
| 10 | 10 | the franchise tax by certain taxable entities engaged in film or | |
| 11 | 11 | motion picture exhibition. | |
| 12 | 12 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 13 | 13 | SECTION 1. Section 171.1012, Tax Code, is amended by adding | |
| 14 | 14 | Subsection (r) to read as follows: | |
| 15 | 15 | (r) If a taxable entity that is a movie theater elects to | |
| 16 | 16 | subtract cost of goods sold, the cost of goods sold for the taxable | |
| 17 | 17 | entity shall be the costs described by this section in relation to | |
| 18 | 18 | the acquisition, production, exhibition, or use of a film or motion | |
| 19 | 19 | picture, including expenses for the right to use the film or motion | |
| 20 | 20 | picture. | |
| 21 | 21 | SECTION 2. This Act is a clarification of existing law and | |
| 22 | 22 | does not imply that existing law may be construed as inconsistent | |
| 23 | 23 | with the law as amended by this Act. | |
| 24 | 24 | SECTION 3. This Act takes effect September 1, 2013. |