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A BILL TO BE ENTITLED
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AN ACT
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relating to the computation of cost of goods sold for purposes of |
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the franchise tax by taxable entities that transport ready-mixed |
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concrete. |
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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 (r) to read as follows: |
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(r) Notwithstanding Subsection (e)(3) or (6), a taxable |
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entity that transports ready-mixed concrete may subtract as cost of |
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goods sold distribution and rehandling costs regardless of whether |
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the taxable entity owns the ready-mixed concrete. |
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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, 2020. |