86R5324 CJC-D
By: Wray H.B. No. 710
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.
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), a taxable
entity that transports ready-mixed concrete may subtract as cost of
goods sold distribution and rehandling 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, 2020.