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A BILL TO BE ENTITLED
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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; and |
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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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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, 2012. |