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AN ACT
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relating to the classification of certain entities as primarily |
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engaged in retail trade for purposes of the franchise tax. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 171.0001(12), Tax Code, is amended to |
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read as follows: |
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(12) "Retail trade" means: |
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(A) the activities described in Division G of the |
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1987 Standard Industrial Classification Manual published by the |
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federal Office of Management and Budget; |
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(B) apparel rental activities classified as |
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Industry 5999 or 7299 of the 1987 Standard Industrial |
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Classification Manual published by the federal Office of Management |
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and Budget; |
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(C) the activities classified as Industry Group |
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753 of the 1987 Standard Industrial Classification Manual published |
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by the federal Office of Management and Budget; |
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(D) rental-purchase agreement activities |
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regulated by Chapter 92, Business & Commerce Code; |
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(E) activities involving the rental or leasing of |
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tools, party and event supplies, and furniture that are classified |
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as Industry 7359 of the 1987 Standard Industrial Classification |
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Manual published by the federal Office of Management and Budget; |
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[and] |
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(F) heavy construction equipment rental or |
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leasing activities classified as Industry 7353 of the 1987 Standard |
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Industrial Classification Manual published by the federal Office of |
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Management and Budget; and |
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(G) activities involving the rental of |
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industrial uniforms, industrial garments, and industrial linen |
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supplies that are classified as Industry 7213 or 7218 of the 1987 |
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Standard Industrial Classification Manual published by the federal |
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Office of Management and Budget. |
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SECTION 2. This Act applies only to a report originally due |
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on or after the effective date of this Act. |
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SECTION 3. This Act takes effect January 1, 2027. |
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______________________________ |
______________________________ |
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President of the Senate |
Speaker of the House |
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I hereby certify that S.B. No. 2774 passed the Senate on |
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April 23, 2025, by the following vote: Yeas 28, Nays 3. |
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______________________________ |
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Secretary of the Senate |
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I hereby certify that S.B. No. 2774 passed the House on |
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May 10, 2025, by the following vote: Yeas 127, Nays 0, two |
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present not voting. |
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______________________________ |
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Chief Clerk of the House |
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Approved: |
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______________________________ |
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Date |
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______________________________ |
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Governor |