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A BILL TO BE ENTITLED
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AN ACT
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relating to the cost of goods sold for purposes of the franchise tax |
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for certain zoos and aquariums. |
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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 (u) to read as follows: |
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(u) If a taxable entity accredited by the Association of |
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Zoos and Aquariums elects to subtract cost of goods sold, the cost |
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of goods sold for the taxable entity shall be the costs described by |
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this section in relation to the acquisition, husbandry, production, |
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exhibition, or conservation of animals. |
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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, 2016. |