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Relating to the exclusion from total revenue of certain payments made by a performing rights society for purposes of computing the franchise tax.
No significant fiscal implication to the State is anticipated.
SB 1824 would require a taxable entity that is a performing rights society, that licenses the public performance of copyrighted musical works, to exclude from its total revenue payments made to the rights holder and the copyright owner for whom the taxable entity licenses the public performance. In other words, this bill would clarify that a performing rights society that pays royalties to the artists is authorized to exclude those royalties from its tax base for purposes of the franchise tax.
Texas Action supports SB 1824 because it promotes limited government and free markets. This bill would clarify that performing rights societies are not unfairly taxed on income that is not really "income" for purposes of the franchise tax.
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