By: Taylor of Galveston S.B. No. 1800
A BILL TO BE ENTITLED
AN ACT
relating to the computation of cost of goods for purposes of the
franchise tax by certain taxable entities.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter C, Section 171.1012 is amended by
adding subsection (u) to read as follows:
(u) Notwithstanding any other provision of this section, a
taxable entity that is in the business of procuring and reselling
tickets which allow for access to an event that requires a ticket to
obtain admission, including sporting events, concerts, and
theatrical shows and that elects to subtract cost of goods sold, may
subtract as a cost of goods sold an amount equal to the purchase
price of such tickets.
SECTION 2. This Act takes effect September 1, 2015.