Clarifies the computation of cost of goods sold by television and radio broadcasters for franchise tax purposes.

The bill amends the Texas Tax Code to clarify the computation of the cost of goods sold by television and radio broadcasters for franchise tax purposes. It specifies that the cost of goods sold includes depreciation, amortization, and other expenses directly related to the acquisition, production, or use of the property, including expenses for the right to broadcast or use the property. The bill defines "television or radio broadcasting" as broadcasting under a license issued by the Federal Communications Commission and regulated under 47 C.F.R. Part 73 or 74.

Clarifies the computation of cost of goods sold by television and radio broadcasters for franchise tax purposes.

The bill amends the Texas Tax Code to clarify the computation of the cost of goods sold by television and radio broadcasters for franchise tax purposes. It specifies that the cost of goods sold includes depreciation, amortization, and other expenses directly related to the acquisition, production, or use of the property, including expenses for the right to broadcast or use the property. The bill defines "television or radio broadcasting" as broadcasting under a license issued by the Federal Communications Commission and regulated under 47 C.F.R. Part 73 or 74.