83R1755 KLA-F
By: Patrick S.B. No. 161
A BILL TO BE ENTITLED
AN ACT
relating to the computation of the franchise tax by certain taxable
entities that rent or lease equipment.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 171.002, Tax Code, is amended by adding
Subsection (c-2) to read as follows:
(c-2) Subsection (c)(2) does not apply to total revenue from
activities in a trade that rents or leases tangible personal
property as described by Industry Group 735 of the Standard
Industrial Classification Manual published by the United States
Department of Labor.
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.