Last week, TTARA submitted an amicus brief to the Texas Supreme Court in support of the taxpayer’s position in CITGO v. Hegar. The case could have huge franchise tax consequences for commodities businesses, particularly those in oil and gas, that engage in any type of price hedging. The case deals with how a taxpayer should…

A copy of the presentation is available to download by clicking the red PowerPoint Presentation button. Agenda 1.2022 Dates of Interest 2.Economic/Fiscal Update 3.Public Education/School Finance (compression) 4.Sales Tax/Tax Administration 5.Property Tax a)General Update b)Special Session Legislation – group discussion SB 1 6.Economic Development: 313 Reporting Rule 7.Franchise Tax

In this issue A Financial Catch 22: State is Awash in Money, but Limits Constrain Its Use Franchise Tax Case Could Impact Hedging Operation A Financial Catch 22: State is Awash in Money, but Limits Constrain Its Use Comptroller Glenn Hegar, the state’s constitutionally-designated revenue estimator, issued an update on the state’s fiscal situation last…