| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 85R3465 TJB-D | |
| 2 | 2 | By: Birdwell S.B. No. 1108 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | A BILL TO BE ENTITLED | |
| 6 | 6 | AN ACT | |
| 7 | 7 | relating to the computation of cost of goods sold for purposes of | |
| 8 | 8 | the franchise tax by taxable entities that transport ready-mixed | |
| 9 | 9 | concrete. | |
| 10 | 10 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 11 | 11 | SECTION 1. Section 171.1012, Tax Code, is amended by adding | |
| 12 | 12 | Subsection (r) to read as follows: | |
| 13 | 13 | (r) Notwithstanding Subsection (e)(3) or (6) or any other | |
| 14 | 14 | provision of this section, a taxable entity that transports | |
| 15 | 15 | ready-mixed concrete may subtract as cost of goods sold | |
| 16 | 16 | distribution costs regardless of whether the taxable entity owns | |
| 17 | 17 | the ready-mixed concrete. | |
| 18 | 18 | SECTION 2. This Act applies only to a report originally due | |
| 19 | 19 | on or after the effective date of this Act. | |
| 20 | 20 | SECTION 3. This Act takes effect January 1, 2018. |