LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION April 9, 2013 TO: Honorable Tommy Williams, Chair, Senate Committee on Finance FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB1447 by Hinojosa (Relating to the exclusion of certain flow-through funds by taxable entities engaged in the business of transporting barite in determining total revenue for purposes of the franchise tax.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend Chapter 171, Tax Code, regarding the franchise tax be adding an exclusion from total revenue for a taxable entity primarily engaged in the business of transporting barite. The exclusion would be for subcontracting payments made by the taxable entity to nonemployee agents for the performance of transportation services on behalf of the taxable entity. Research on companies primarily engaged in the business of providing barite transportation services yielded no significant business activity of that kind in Texas. The bill would take effect January 1, 2014, and apply to a franchise tax report due on or after that date. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:304 Comptroller of Public Accounts LBB Staff: UP, KK, SD
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION
April 9, 2013
TO: Honorable Tommy Williams, Chair, Senate Committee on Finance FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB1447 by Hinojosa (Relating to the exclusion of certain flow-through funds by taxable entities engaged in the business of transporting barite in determining total revenue for purposes of the franchise tax.), As Introduced
TO: Honorable Tommy Williams, Chair, Senate Committee on Finance
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: SB1447 by Hinojosa (Relating to the exclusion of certain flow-through funds by taxable entities engaged in the business of transporting barite in determining total revenue for purposes of the franchise tax.), As Introduced
Honorable Tommy Williams, Chair, Senate Committee on Finance
Honorable Tommy Williams, Chair, Senate Committee on Finance
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
SB1447 by Hinojosa (Relating to the exclusion of certain flow-through funds by taxable entities engaged in the business of transporting barite in determining total revenue for purposes of the franchise tax.), As Introduced
SB1447 by Hinojosa (Relating to the exclusion of certain flow-through funds by taxable entities engaged in the business of transporting barite in determining total revenue for purposes of the franchise tax.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would amend Chapter 171, Tax Code, regarding the franchise tax be adding an exclusion from total revenue for a taxable entity primarily engaged in the business of transporting barite. The exclusion would be for subcontracting payments made by the taxable entity to nonemployee agents for the performance of transportation services on behalf of the taxable entity. Research on companies primarily engaged in the business of providing barite transportation services yielded no significant business activity of that kind in Texas. The bill would take effect January 1, 2014, and apply to a franchise tax report due on or after that date.
The bill would amend Chapter 171, Tax Code, regarding the franchise tax be adding an exclusion from total revenue for a taxable entity primarily engaged in the business of transporting barite. The exclusion would be for subcontracting payments made by the taxable entity to nonemployee agents for the performance of transportation services on behalf of the taxable entity.
Research on companies primarily engaged in the business of providing barite transportation services yielded no significant business activity of that kind in Texas.
The bill would take effect January 1, 2014, and apply to a franchise tax report due on or after that date.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: 304 Comptroller of Public Accounts
304 Comptroller of Public Accounts
LBB Staff: UP, KK, SD
UP, KK, SD