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A BILL TO BE ENTITLED
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AN ACT
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relating to the computation of the franchise tax by certain taxable |
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entities that rent or lease equipment. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 171.002, Tax Code, is amended by adding |
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Subsection (c-2) to read as follows: |
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(c-2) Subsection (c)(2) does not apply to total revenue from |
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activities in a trade that rents or leases tangible personal |
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property as described by Industry Group 735 of the Standard |
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Industrial Classification Manual published by the United States |
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Department of Labor. |
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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. |