84R24788 TJB-F
By: Wray H.B. No. 3923
Substitute the following for H.B. No. 3923:
By: Springer C.S.H.B. No. 3923
A BILL TO BE ENTITLED
AN ACT
relating to the computation of cost of goods sold for purposes of
the franchise tax by taxable entities that transport ready-mixed
concrete; adding a provision subject to a criminal penalty.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 171.1012, Tax Code, is amended by adding
Subsection (r) to read as follows:
(r) Notwithstanding Subsection (e)(3) or (6) or any other
provision of this section, a taxable entity that transports
ready-mixed concrete may subtract as cost of goods sold
distribution costs regardless of whether the taxable entity owns
the ready-mixed concrete.
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, 2016.