Texas § 2004.007 REASONABLE OPERATING EXPENSES.

Texas Statutes

§ 2004.007 — REASONABLE OPERATING EXPENSES.

Texas § 2004.007

Code OCOccupations Code

This text of Texas § 2004.007 (REASONABLE OPERATING EXPENSES.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Occupations Code Code Ann. § 2004.007 (2026).

Text

Sec. 2004.007. REASONABLE OPERATING EXPENSES.

(a)For each raffle conducted under this chapter, a professional sports team charitable foundation may deduct not more than 10 percent of the gross proceeds collected from the sale of tickets for the raffle to pay the reasonable operating expenses of conducting the raffle.

(b)For purposes of this chapter, reasonable operating expenses include:

(1)promotion, advertisements, charitable foundation fund-raising events, equipment, and administrative expenses; and

(2)purchase, lease, or licensing fees for the equipment, hardware, and software necessary to:

(A)sell raffle tickets to raffle participants;

(B)conduct random drawings to select prize winners; and

(C)continuously calculate the number of ticket sales, amount of money collected, amount

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 2004.007. REASONABLE OPERATING EXPENSES. (a) For each raffle conducted under this chapter, a professional sports team charitable foundation may deduct not more than 10 percent of the gross proceeds collected from the sale of tickets for the raffle to pay the reasonable operating expenses of conducting the raffle.
(b) For purposes of this chapter, reasonable operating expenses include:
(1) promotion, advertisements, charitable foundation fund-raising events, equipment, and administrative expenses; and
(2) purchase, lease, or licensing fees for the equipment, hardware, and software necessary to:
(A) sell raffle tickets to raffle participants;
(B) conduct random drawings to select prize winners; and
(C) continuously calculate the number of ticket sales, amount of money collected, amount of cash prize to be awarded, amount of money raised for charitable purposes, and amount of gross ticket sales that may be deducted for reasonable operating expenses.