Bill Text: TX HB1170 | 2011-2012 | 82nd Legislature | Introduced


Bill Title: Relating to the computation of the franchise tax by certain taxable entities that rent or lease equipment.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Introduced - Dead) 2011-04-26 - Left pending in committee [HB1170 Detail]

Download: Texas-2011-HB1170-Introduced.html
  82R4503 KLA-F
 
  By: Madden H.B. No. 1170
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the computation of the franchise tax by certain taxable
  entities that rent or lease equipment.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 171.002, Tax Code, is amended by adding
  Subsection (c-2) to read as follows:
         (c-2)  Subsection (c)(2) does not apply to total revenue from
  activities in a trade that rents or leases tangible personal
  property as described by Industry Group 735 of the Standard
  Industrial Classification Manual published by the United States
  Department of Labor.
         SECTION 2.  This Act applies only to a report originally due
  on or after the effective date of this Act.
         SECTION 3.  This Act takes effect January 1, 2012.
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