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A BILL TO BE ENTITLED
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AN ACT
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relating to the inclusion of a portion of the costs of accepting |
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credit and debit cards in the cost of goods sold for purposes of |
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computing 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 171.1012, Tax Code, is amended by adding |
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Subsection (p) to read as follows: |
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(p) Notwithstanding Subsection (e)(2) or any other |
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provision of this section, the cost of goods sold includes 20 |
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percent of the costs attributable to the acceptance of credit cards |
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and debit cards as a means of payment. |
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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, 2014. |